US Supreme Court to rule on ExxonMobil case over 1960 Cuban asset seizures

The US Supreme Court will hear ExxonMobil’s appeal for compensation from Cuban state-owned firms over nationalised oil assets, reviving enforcement of the Helms-Burton Act.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The US Supreme Court has agreed to examine ExxonMobil’s bid to obtain compensation from Cuban state-owned companies for oil and gas assets confiscated after the 1959 revolution. The legal action is based on the 1996 Helms-Burton Act, which permits US citizens to sue foreign entities benefiting from expropriated property in Cuba.

The appeal follows a ruling by a federal appellate court that had curtailed ExxonMobil’s ability to claim compensation from Cuban companies allegedly using facilities tied to its former operations. The decision by the country’s highest court paves the way for a reassessment of legal pathways for indemnification over nationalisations that occurred more than sixty years ago.

Legal precedent under review

The Helms-Burton Act, rarely litigated in US courts, was invoked by ExxonMobil to seek hundreds of millions of dollars in damages. Court filings indicate the seized assets included refining and distribution facilities now operated by Cuban state entities. Cuban authorities, long opposed to the legitimacy of the law, have not participated in the proceedings.

In a parallel case, the Supreme Court also agreed to hear a petition from Havana Docks Corporation, a Delaware-registered firm, seeking to enforce a $440mn judgment against four cruise lines, including Carnival Corporation and Norwegian Cruise Line Holdings, for using a Havana port terminal nationalised in 1960.

Hearing scheduled during 2025–2026 term

Arguments before the Supreme Court are scheduled to begin during the new nine-month term starting this Monday. Final rulings are not expected before spring or summer 2026, but the cases may establish significant precedent for other US companies affected by Cuba’s post-revolution nationalisations.

ExxonMobil previously secured a default judgment against the Cuban defendants in 2019, but enforcement efforts encountered legal barriers. The current proceedings could redefine the circumstances under which American firms can hold foreign entities accountable for profiting from assets seized during Cuba’s nationalisation wave.

Sofia appoints an administrator to manage Lukoil’s Bulgarian assets ahead of upcoming US sanctions, ensuring continued operations at the Balkans’ largest refinery.
The United States rejected Serbia’s proposal to ease sanctions on NIS, conditioning any relief on the complete withdrawal of Russian shareholders.
The International Energy Agency expects a surplus of crude oil by 2026, with supply exceeding global demand by 4 million barrels per day due to increased production within and outside OPEC+.
Cenovus Energy has completed the acquisition of MEG Energy, adding 110,000 barrels per day of production and strengthening its position in Canadian oil sands.
The International Energy Agency’s “Current Policies Scenario” anticipates growing oil demand through 2050, undermining net-zero pathways and intensifying investment uncertainty globally.
Saudi Aramco cuts its official selling price for Arab Light crude in Asia, responding to Brent-Dubai spread pressure and potential impact of US sanctions on Russian oil.
The removal of two Brazilian refiners and Petrobras’ pricing offensive reshuffle spot volumes around Santos and Paranaguá, shifting competition ahead of a planned tax increase in early 2026.
Shell Pipeline has awarded Morrison the construction of an elevated oil metering facility at Fourchon Junction, a strategic project to strengthen crude transport capacity in the Gulf of Mexico.
An arrest warrant has been issued against Timipre Sylva over the alleged diversion of public funds intended for a modular refinery. This new case further undermines governance in Nigeria’s oil sector.
With only 35 days of gasoline left, Bulgaria is accelerating measures to secure supply before US sanctions on Lukoil take effect on November 21.
Russia is negotiating the sale of its stake in Serbian oil company NIS as US sanctions threaten the operations of the company, which plays a key role in Serbia’s economy.
TotalEnergies, QatarEnergy and Petronas have signed a production sharing contract to explore the offshore S4 block in Guyana, marking a new step in the country’s opening to operators beyond ExxonMobil.
India boosts crude imports from Angola amid tightening U.S. sanctions on Russia, seeking low-risk legal diversification as scrutiny over cargo origins increases.
The shutdown of Karlshamn-2 removes 335 MW of heavy fuel oil capacity from southern Sweden, exposing the limits of a strategic reserve model approved but inoperative, and increasing pressure on winter supply security.
The Bulgarian government has increased security around Lukoil’s Burgas refinery ahead of a state-led takeover enabled by new legislation designed to circumvent international sanctions.
Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.
MEG Energy shareholders have overwhelmingly approved the acquisition by Cenovus, marking a critical milestone ahead of the expected transaction closing later in November.
Petrobras reported a net profit of $6 billion in the third quarter, supported by rising production and exports despite declining global oil prices.
Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
The Trump administration will launch on December 10 a major oil lease sale in the Gulf of Mexico, with a second auction scheduled in Alaska from 2026 as part of its offshore hydrocarbons expansion agenda.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.