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Texaco Overseas Petroleum Co. and California Asiatic Oil Co. v. the Government of Libyan Arab Republic

17 I.L.M. 1 (1978)

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Texaco Overseas Petroleum Co. and California Asiatic Oil Co. v. the Government of Libyan Arab Republic

International Arbitral Tribunal
17 I.L.M. 1 (1978)

Facts

Texaco Overseas Petroleum Co. and California Asiatic Oil Co. (the companies) (plaintiff) held rights to petroleum within Libya (defendant) per 14 deeds of concession with the Libyan government. In 1973 and 1974, the Libyan government issued orders nationalizing Libya’s resources. The companies submitted the issue for international arbitration.

Rule of Law

Issue

Holding and Reasoning (Dupuy, J.)

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