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AME Info, Abu Dhabi, United Arab Emirates, Oil and Gas Briefs Column.

Byline: Peter J. Cooper

Mar. 23--SABIC TO PAY USD417 MILLION TO EXXONMOBIL: Saudi Arabian Basic Industries has lost a USD400 million contract dispute with ExxonMobil in a jury verdict in New York, reported Reuters. Sabic must pay ExxonMobil USD417 million for overcharging licensing fees in two joint ventures to make chemicals for plastics. An ExxonMobil spokesman said the USD417 million award was an appropriate resolution of the dispute.

IRAQI OIL EXPORTS HALT DUE TO WAR: Iraqi oil exports came to an immediate halt with the attack by US-led coalition forces

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