Global commodities trader Glencore is suing Cameroon’s only refinery to the tune of FCFA 9.6 Billion for late payments and penalties in connection with contracts to deliver 1.6 million barrels of crude oil between 2012 and 2015. The Swiss commodities trader is claiming 9.6 billion FCFA from Sonara, Cameroon’s only refinery in connection with the deliveries made. The national refining company (Sonara), a public company in Cameroon, is currently the subject of a lawsuit before the High Court of Justice of England and Wales, reveals the specialized platform Energies Média , which quotes Law360, a publication specializing in legal affairs and commercial litigation.
Indeed, before this English court, and by the company of the British law firm Ince Gordon Dadds, Glencore, a Swiss commodities trader, through its subsidiary Glencore Energy UK Ltd, is claiming unpaid amounts from Sonara in the amount of total of 14.7 million euros, or 9.6 billion FCFA.
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According to Glencore, this envelope represents, for the most part, penalties for late payments, in connection with contracts to deliver just over 1.6 million barrels of crude oil to Sonara, between November 2012 and January. 2015. Clearly, the Swiss trader accuses his Cameroonian partner of not having paid his invoices within the contractual deadlines and therefore demands repairs. For the moment, the Sonara has not officially reacted to this legal procedure opened before the British justice, since June 2020, and revealed by Law360, on August 11 .
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry