Aramco: The appeal ruling was issued in our favour, in the Al-Qarqani lawsuit

The Saudi Arabian Oil Company (Saudi Aramco) announced that a US court issued a ruling in its favour, in the appeal submitted by the heirs of Khalid Abu Al-Walid Al-Houd Al-Qarqani.

The company stated in a statement on the website of the Saudi Stock Exchange “Tadawul” today, Sunday, that it received a notification from the US Federal Court for the Southern District of Texas on 01/21/2121 of the heirs’ appeal of the primary ruling issued in favor of Saudi Aramco before the Court of Appeals in the Fifth Federal Circuit. In its statement, Saudi Aramco confirmed that the appeal ruling was unanimously passed in its favour, on 12/02/2021.

In November 2020, Saudi Aramco announced the issuance of a preliminary court ruling in its favour, dismissing the lawsuit filed by the heirs of Khalid Abu Al-Walid Al-Houd Al-Qarqani, before the US Federal Court for the Southern District of Texas, regarding the plaintiffs’ claim to implement an alleged arbitration award in the amount of approximately $18 billion (67.3). billion riyals). It indicated that the subject matter of the dispute, which is the subject of the alleged arbitration award, relates to rent payments that the plaintiffs claim to be entitled to as a result of Saudi Aramco’s use of a plot of land in the Ras Tanura area in the Kingdom of Saudi Arabia. Aramco stated that the plaintiffs were entitled to file another appeal to the Court of Appeals, the Supreme Court of the United States, or both.


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