According to a report from the Presidential Center for International Legal Affairs, in a ruling dated February 24, 2025, the tribunal rejected Crescent Petroleum’s request to hold NIOC responsible for paying billions of dollars in damages.

The UAE company had argued that NIOC was liable for losses it allegedly caused to other companies, with the claim amounting to several billion dollars.

The tribunal reached its decision after two rounds of document exchanges over three years, two hearings, and a review of arguments presented by both parties’ legal teams and independent experts.

Another claim by Crescent Petroleum, seeking reimbursement for all legal costs related to the dispute, was also dismissed.

NIOC’s victory in this case is considered its most significant substantive win in the arbitration tribunal since the Crescent Petroleum case began in 2009.

With the issuance of this ruling, thanks to the efforts of the legal team involved, one of the most significant cases brought against NIOC has concluded in the company’s favor.