7 May 2024
Shell and Reliance stand firm against USD 3 billion royalty demand from Delhi
Publication date: 19 July 2017
Gas Strategies Group
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Shell and Reliance Industries are challenging a USD 3 billion demand issued by the government of India relating to disputed profits and royalties allegedly due from interests in the Panna, Mukta and Tapti oil and gas fields offshore Mumbai.
The two companies have rejected the government’s demand, and lodged an appeal in the English courts against an earlier tribunal ruling upon which officials in Delhi are basing their calculations.
Both Shell and RIL have dismissed the demand notice ...