By George Glover

Venture Global stock was plummeting on Friday after the natural-gas exporter said it had lost an arbitration case against one of its own customers, BP.

Shares, which trade under the ticker VG, dropped 19% to $10.25 ahead of the opening bell. BP's American depositary receipts were 0.2% lower. Futures tracking the S&P 500 were flat.

The selloff came after Venture Global said in a regulatory filing that on Oct. 8, the International Court of Arbitration issued a partial final award to BP. The British oil major and several other customers have accused Venture Global of withholding contracted liquefied natural gas cargoes, and instead selling them on the spot market to benefit from a surge in prices that's been driven by the war in Ukraine.

BP is seeking damages of more than $1 billion, as well as interest, costs and attorneys' fees. Remedies will be determined in a separate damages hearing, which Venture Global said it expects will take place in 2026.

Venture Global has previously guided that it will report earnings before interest, taxes, depreciation and amortization of between $6.4 billion and $6.8 billion for the current year, so the ruling could end up being a significant blow to its profit.

The company went public via an initial public offering in January. Shares have tumbled 58% since then.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 10, 2025 07:43 ET (11:43 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.