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ONGC, RIL, Shell to pay $3.8b
May 24, 2018

ONGC, RIL, Shell to pay $3.8b

The Indian Oil Ministry has ordered ONGC, RIL and Shell to pay the government’s share of $3.8b from PMT fields. The decision has come after a UK court rejected challenges to the arbitration award. The liability is to be shared by the companies as 40% for ONGC, and 30% each for Shell and RIL, in proportion to their interests in the oil and gas fields in the Arabian Sea.

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