The Federal High Court sitting in Port Harcourt has reaffirmed its earlier judgment awarding $100 million in damages to Cutra International Limited in its legal dispute with the China National Petroleum Corporation (CNPC) over the controversial handling of Oil Prospecting Licence (OPL) 471.

The decision, delivered in Suit No. FHC/PH/CS/136/2022 between Cutra International Limited and China National Petroleum Corporation, marks a significant development in one of Nigeria’s most prominent commercial disputes involving a foreign oil corporation.

In a ruling delivered on April 24, 2026, the court dismissed an application filed by CNPC seeking to overturn the judgment earlier entered against it on May 23, 2025. The application to set aside the judgment had been filed by the Chinese corporation on October 28, 2025.

The court, however, held that there was no legal basis to disturb its previous decision, thereby affirming the full judgment sum of $100 million awarded in favour of Cutra International Limited.

The dispute arose from the ownership structure and equity participation arrangement under OPL 471, an oil prospecting licence awarded by the Federal Government of Nigeria in 2006/2007 to CNPC and its Nigerian partner, Cutra International Limited.

Under the arrangement between the parties, Cutra held a 10 per cent equity interest in the oil block. However, according to court documents, CNPC unilaterally returned the OPL to the Federal Government without consulting or obtaining the consent of Cutra.

Aggrieved by the action, Cutra approached the court seeking damages over what it described as the deprivation of its benefits and entitlements arising from the oil asset.

In its earlier judgment, the court found in favour of the Nigerian firm and, while assessing damages, observed that Cutra’s evidence that the minimum yield from the oil block was valued at about $5 billion was not challenged by CNPC during proceedings.

Relying on what it described as uncontroverted evidence before it, the court consequently awarded damages in the sum of $100 million against CNPC.

In dismissing the fresh application seeking to reopen the matter, the court emphasised the legal principle of functus officio, stressing that once a court has taken a position on an issue before it, it cannot revisit the same issue except under legally recognised circumstances.

According to the court, “when a Court takes a position on a matter in controversy before it, that Court becomes functus officio with respect to that matter in controversy, and the Court stands and remains bound by the decision.”

The court further stated that, “where a trial Court in the course of proceedings in a matter before it decides on a particular issue or question, it becomes functus officio to revisit that issue or question.”

Legal analysts say the ruling reinforces the authority of Nigerian courts in the determination and enforcement of high-value commercial disputes involving multinational corporations and foreign investors.

The judgment is also expected to generate significant interest within legal, financial and commercial circles, particularly because of the international dimensions of the dispute and the potential challenges associated with enforcing judgments against foreign corporate entities