ONGC confirms govt seeking $3.9 bn from it and partners RIL, Shell in dues

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Latest News – The government has slapped ONGC, Reliance Industries and Royal Dutch Shell with a demand of $3.9 billion (about Rs 25,487 crore) in dues following an arbitration award in its favour, the state-owned firm said on Thursday .

The demand notice pertains to interpretation of the contract for the Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea.

“The directorate general of hydrocarbons (DGH), vide letter dated May 25, 2017, marked to all joint venture partners — RIL, BG Exploration and Production India Ltd (now taken over by Shell) and ONGC — has asked for payment of differential (Read More)

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