OIL & GAS

Delhi HC gives temporary relief to Halliburton in Force Majeure case against Vedanta

Oil field service provider Halliburton Offshore Services has received temporary relief from the Delhi High Court in a Force Majeure case against mining and natural resource giant Vedanta.

A bench headed by Justice C Hari Shankar on 20 April restrained Vedanta from invoking eight bank guarantees of Halliburton up to 11 May, the next date of hearing, according to the interim order passed by the court.

“The injunction presently being granted, it is reiterated, is purely ad interim in nature, and is being granted only in view of the completely unpredictable nature of the lockdown, and its sudden imposition on 22nd March, 2020, of which the petitioner could not legitimately be treated as having been aware in advance,” the order read. Halliburton is the petitioner in the case while Vedanta the respondent.

The disruption to supply chains because of the ongoing Covid-19 pandemic has started weighing on the performance and contractual obligations across businesses. The constraints have prompted many energy companies to evoke the Force Majeure clause in contracts to avoid penalties for non-performance.

Source
ET Energy World
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