Palmali Lodges $2 Bln Claim Against Lukoil's Litasco
Posted by Michelle Howard
Monday, September 18, 2017
Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil, with the English High Court.
"The claim concerns an alleged failure by Litasco S.A. to provide contractual quantities of cargo under long term contract between the companies," Palmali said in a statement sent to Reuters.
Reporting by Nailia Bagirova; writing by Vladimir Soldatkin