News Brief | December 2016
Reliance Industries slaps GoI with arbitration notice
Reliance Industries has slapped an arbitration notice on the government over a demand $1.55 billion demand made on it for ´unfairly enriching´ by producing natural gas belonging to ONGC, Oil Minister Dharmendra Pradhan said. The oil ministry had on November 3 issued a notice to RIL, Niko and UK´s BP plc seeking $1.47 billion for producing in the seven years ended March 31, 2016 about 338.332 million British thermal unit of gas that had seeped or migrated from state-owned ONGC blocks into their adjoining KG-D6 in Bay of Bengal.
Contact: Govt. of India