Augusta Energy SA v Top Oil and Gas Development Company Ltd [2024] EWHC 2285 (Comm) (6 September 2024)

In a CIF sale contract governed by English law, Augusta (Claimant) sold 10,000mt of AGO to Top Oil, with Cast Oil (Joint Defendants) facilitating the transaction. Cast Oil, operating under a Nigerian law-governed MOU, used Top Oil’s LOC, assuming risks while Top Oil remained the buyer. Top Oil later alleged non-delivery due to Cast Oil’s fraud and claimed Augusta used forged documents to draw payment under the LOC, threatening legal action in Nigeria. The Judge ruled Cast Oil acted as Top Oil’s agent, binding Top Oil to the English jurisdiction clause, and their failure to file a timely defence led to submission to the English court’s jurisdiction.