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India to appeal arbitration ruling on Reliance-ONGC dispute

Published 2018-08-03, 02:11 a/m
© Reuters.  India to appeal arbitration ruling on Reliance-ONGC dispute
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NEW DELHI, Aug 3 (Reuters) - India will appeal against a ruling by an international tribunal in favour of Reliance Industries Ltd RELI.NS and its international partners in a dispute over gas migration from fields operated by state-owned Oil and Natural Gas Corp Ltd ONGC.NS .

"We will definitely appeal at the highest forum against the international arbitration order favouring Reliance," Dharmendra Pradhan, India's oil minister said on Friday.

Reliance and its partners BP Plc BP.L and Niko Resources NKO.TO 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.

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