Press Releases

Hamburg/Singapore
April 13, 2018

Ruling in Favor of Mabanaft

On April 10, the 55th Judicial District Court in Harris County, Texas awarded a US$ 523.8 million judgment in favor of Mabanaft Pte. Ltd. against Oriental Energy Company, Ltd. in litigation related to breach of a long-term contract by OE China.

The contract that OE China was found to have breached is a Term Agreement for the Sale and Terminalling of Propane originally entered into with Mabanaft in October 2013 for the FOB (free on board) sale and purchase of US-sourced propane commencing in January 2017. In October 2017, the Court ruled that OE China breached the contract and that the liquidated damage provisions in the contract are enforceable. In its April 10, 2018 judgment, the Court ordered OE China to pay Mabanaft an amount of US$ 523,842,849.19 in liquidated damages. 

The Court also dismissed OE China’s counterclaims for damages.


Mabanaft Pte Ltd. is a subsidiary of Mabanaft in Hamburg, Germany. The Mabanaft group is an independent energy trader concentrating on physical oil and gas trading around the world for over 70 years. Its core business includes regional trading and wholesale, retail business, operation of service stations, and bunkering. The subsidiary Mabanaft Pte. Ltd. based in Singapore focusses on the regional physical trading business in Asia. The company is specialized in trading of petroleum and gas products. www.mabanaft.com


For media inquiries, please contact:
Brunswick Group Beijing office 
Tel: +86 10 5960 8600
mabanaftmediabrunswickgroup.com

 

法庭作出有利于Mabanaft公司的裁定

德国汉堡,2018年4月13日 — 4月10日(美国时间),美国得克萨斯州哈里斯郡第55地方法院就Mabanaft私人有限公司(Mabanaft Pte. Ltd.,以下简称 “Mabanaft公司”)起诉东华能源股份有限公司(以下简称“东华能源”)违反一项长期合同的诉讼案,作出判决。法院裁定Mabanaft公司胜诉,东华能源须向其支付5.238亿美元。

东华能源违约的相关合同是其2013年10月与Mabanaft公司签订的丙烷销售和输送协议合同,合同约定东华能源自2017年1月起,从Mabanaft公司离岸购买源自美国的丙烷。2017年10月,法院判定东华能源违反合同,且应当依据合同包含的违约赔偿条款进行赔付。2018年4月10日,法庭责令东华能源支付Mabanaft公司5.2384284919亿美元违约赔偿金。

法院同时还驳回了东华能源要求赔偿的反诉请求。 

 

Mabanaft私人有限公司是总部设于德国汉堡的Mabanaft集团(以下简称“该集团”)的子公司。该集团是独立能源贸易商,专注于石油和天然气全球贸易70余年,核心业务包括地区贸易、批发及零售、加油站运营和供油。该集团旗下的Mabanaft私人有限公司位于新加坡,专注亚洲地区的实体货物贸易,主营业务为石油和天然气产品贸易。

有关Mabanaft集团的更多信息,请访问网站www.mabanaft.com。

 

媒体垂询,敬请联系

博然思维集团北京办公室
电话:+86 10 5960 8600
电邮:mabanaftmediabrunswickgroup.com 

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