Abu Dhabi – Mubasher: The London High Court ruled that BP must pay more than $68 million to the National Bank of Abu Dhabi (NBAD) in a case related to the surprise closure of Morocco's Samir refinery in 2015, according to Jeuneafrique newspaper.
The British company sold a cargo of Russian Urals crude to Samir in August 2014 which was not paid for and NBAD took on 95% of that debt.
It said the contract between BP and Samir stipulated that there could be no assignment of obligations or rights without reasonable consent and that Samir's consent had not been obtained.
The bank was entitled to receive from BP some $68.9 million, in addition to the interest that Samir failed to pay the bank.
