Verenex Mulls Arbitration

摘要

Canada's Verenex Energy said Thursday that it has drawn up a claim against Libya for arbitration in a dispute over the company's proposed sale to China. Tripoli has said it will preempt China National Petroleum Corp.'s (CNPC) C$10 (US$9.24) per share bid for Verenex, but has yet to make a formal offer for the company and has not given consent to the Chinese deal (IOD May6,p7). Verenex needs Tripoli's consent for the Chinese purchase, announced in February, to move forward (IOD Feb.27,p7).