Crescent Expects February Arbitration Ruling, Gulf News Says
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Crescent Petroleum Co. expects an arbitration case against National Iranian Oil Co. to be settled in February, the Gulf News said, citing Crescent’s Chief Executive Officer Majid H. Jafar.
Iran’s state oil company agreed in 2001 to supply 500 million cubic feet of Iranian gas a day to the emirate of Sharjah through a pipeline built in part by Crescent. Deliveries were to have commenced in December 2005, the newspaper said.