Indian court upholds tribunal ruling favouring Reliance in gas sale case

Reuters

9 May 2023 at 7:15 am·1-min read

FILE PHOTO: Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai

NEW DELHI (Reuters) - Delhi High Court has upheld the ruling of an arbitration panel favouring Reliance Industries and its foreign partners in a dispute over gas migration from fields operated by state-owned Oil and Natural Gas Corp Ltd, a court order shows.

The oil ministry had approached the Delhi High Court after an international arbitration panel rejected its $1.55 billion fine on Reliance and its partners for selling gas that migrated from ONGC's fields in the east coast Krishna-Godavari basin to their block in the same area.

"...the view taken by the arbitral tribunal is most certainly a "possible view", which calls for no interference," the court order said.

(Reporting by Nidhi Verma and Arpan Chaturvedi)

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