Mansors brought claims on behalf of a Russian supplier against the Austrian and United Arab Emirates companies, arising out of a number of contracts for the supply of specialty oilfield chemicals. The respondents provide well drilling and workover services to leading oil and gas companies in the Russian Federation, Central and Southern Asia, and Middle East.
The supply agreements provided for arbitration under the Arbitration Rules of the Stockholm Chamber of Commerce by three arbitrators, seated in Stockholm, with applicable law of Sweden.
As a result, the respondents repaid the full amount of a multimillion debt to complete satisfaction of the client.
Specialty oilfield chemicals consist of ample specialty chemicals engaged for a wide range of purposes. The most important products presented within these chemicals include institutional cleaning chemicals and industrial, specialty superior polymers, construction chemicals and pesticides, among several others.
The most important reason of specialty oilfield chemicals is to progress the recovery of oil from the oil-well. These chemicals are used during a variety of processes occupied in oil recovery from the oilfield for instance: exploration, drilling, production and maintenance. / www.oilvoice.com
The Arbitration Institute of the Stockholm Chamber of Commerce (SCC) has developed into one of the world’s leading forums for dispute resolution.
The SCC was established in 1917 and is part of, but independent from, the Stockholm Chamber of Commerce
.The SCC consists of a Board and a Secretariat and provides efficient dispute resolution services for both Swedish and international parties.
The SCC was recognized in the 1970's by the United States and the Soviet Union as a neutral centre for the resolution of East West trade disputes. Also China recognized the SCC as a forum for resolving international disputes around the same time. The SCC has since expanded its services in international commercial arbitration and emerged as one of the most important and frequently used arbitration institutions worldwide.
In recent years the number of cases filed with the SCC – both domestic and international – has increased considerably. The high number of international cases - nearly 50% - clearly evidence the strong position of the SCC as a preferred venue for dispute resolution among the international business community. Every year parties from as many as 30-40 countries use the services of the SCC.
Sweden and the SCC also play a unique role in the international system developed for bilateral and multilateral investment protection worldwide. In at least 120 of the current bilateral investment treaties (BITs) Sweden or the SCC is cited as the forum for resolving disputes between investors and the state. Today, the SCC is the world’s second largest institution for investment disputes. /www.sccinstitute.com