Govt loses UK battle against $111m award to RIL-BG in oilfield dispute

An English commercial court has dismissed the government’s appeal against a $111 million international arbitration award in favour of Reliance Industries Ltd and BG (formerly British Gas, a now Shell subsidiary) in an 11-year-old dispute over recovery of costs for operating the Panna-Mukta and Tapti fields off the Mumbai coast.

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