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Government To Appeal Arbitration Ruling On Reliance-ONGC Dispute

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Reliance and its partners filed an arbitration notice against the government in November 2016.NEW DELHI: The government will appeal against a ruling by an international tribunal in favour of Reliance Industries Ltd and its international partners in a dispute over gas migration from fields operated by state-owned Oil and Natural Gas Corp Ltd."We will definitely appeal at the highest forum against the international arbitration order favouring Reliance," Oil Minister Dharmendra Pradhan said on Friday.Reliance and its partners BP Plc and Niko Resources filed an arbitration notice against the government in November 2016 after the government imposed a $1.55 billion fine on the consortium for selling gas that migrated from state-owned ONGC's fields in the east coast Krishna-Godavari basin.© Thomson Reuters 2018(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)




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