IN BRIEF: Ascent Resources stock up as Slovenia arbitration closes
Ascent Resources PLC - oil and gas exploration and production firm with principal assets in Slovenia and the US - Says that the tribunal in its Energy Charter Treaty arbitration against Slovenia informed it, on Wednesday, that pursuant to ICSID Arbitration Rule 38, the proceeding has been formally closed. Ascent expects the tribunal to render its final award before the end of this month, and says it will issue further updates as appropriate. Ascent filed its claim against the Republic of Slovenia in 2022, alleging that the government had "unfairly targeted and expropriated" its investments. It claims that a 2020 change to Slovenian mining laws, which banned hydrocarbon exploration using fracking, "destroyed the value of the company's investments in the Slovenian energy sector", and sought EUR656.5 million in damages. The parties made their final submissions in July 2025, after which the tribunal was obliged to render its award within 240 days. Read More