24.2 C
Ontario
Wednesday, September 4, 2024

Vedanta receives arbitration award in Rajasthan oil block case

- Advertisement -
- Advertisement -


Vedanta receives arbitration award in Rajasthan oil block case

“Company has received an arbitration award dated August 23, 2023 inter alia upholding the contention of the company that additional Profit Petroleum, on account of Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters, is not payable as per terms of the Production Sharing Contract for Rajasthan Block,” Vedanta said in a stock exchange filing.

Vedanta had initiated the arbitration proceedings after the government had sought additional share of profit from the company, whilerenewing its licence for the oil block in Barmer, as per reports.

–Ajit Weekly News

san/d


News Credits – I A N S

- Advertisement -
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -
Latest news
Related news