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BP Oil International Ltd v Vega Petroleum Ltd and Another – QBD (Comm Ct) (Cockerill J) [2021] EWHC 1364 (Comm) – 21 May 2021

Lloyd's Maritime Law Newsletter

BP Oil International Ltd v Vega Petroleum Ltd and Another – QBD (Comm Ct) (Cockerill J) [2021] EWHC 1364 (Comm) – 21 May 2021

Sale of goods – Contract for sale of crude oil FOB – Buyer paying price but not receiving any crude oil – Buyer claiming return of sums in unjust enrichment on basis of failure of consideration – Seller contending that contract was inconsistent with buyer’s right to claim money back – Whether buyer entitled to return of sums paid

The claimant (BPOI) entered into a series of contracts which provided for the sale of 211,387 barrels of Gulf of Suez Mix crude oil (GOSM) “FOB Ras Shukheir Terminal”. Between June 2013 and February 2015 BPOI paid a total of US$17,235,448 to the first defendant, Vega Petroleum Ltd (Vega) and the second defendant, Dover Investments Ltd (Dover).

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