Civil Procedure · High Court (Commercial Court)
Conex Oil & Gas Holdings Ltd v PSTV Energy FZCO
Checked against the judgment on 14 September 2026 · how we verify
Facts
Conex Oil & Gas Holdings Ltd ("COGH"), a British Virgin Islands company heading a group selling oil and gas in West Africa, gave a guarantee delivered to PSTV Energy FZCO on or around 4 September 2023 of the obligations of its Liberian group company, Conex Petroleum Services Inc. ("CPS"). Those obligations arose under a supply agreement of 10 June 2021 by which PSTV, a Dubai-incorporated marine fuel trader, supplied fuels to CPS for distribution in Liberia and Sierra Leone. The supply agreement is governed by English law and provides for London arbitration; clause 23 of the guarantee is governed by English law and confers non-exclusive jurisdiction on the English courts. PSTV demanded USD 24,357,111 under the guarantee on 25 March 2025 and sent a letter before action on 26 June 2025 requiring a response by 17 July 2025. On that date COGH instead began a Petition for Proper Accounting against PSTV in Liberia. PSTV issued its claim in England on 24 July 2025 for USD 23,007,171, and commenced arbitration against CPS the same day. PSTV's motion to dismiss the Liberian proceedings was rejected on 4 September 2025, after which it took no further part there. COGH applied for a stay of the English proceedings under CPR 11, alternatively on case management grounds.
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