Reliance, BP, Niko seek amicable settlement in KG basin gas dispute; SC defers hearing to July 21
New Delhi: The Supreme Court has deferred hearing of the Krishna-Godavari basin gas migration dispute, after Reliance Industries and partners UK-based BP Exploration and Canada's Niko Resources said they want to explore an amicable settlement with the Centre. The government also indicated it was willing to consider conciliation to resolve the dispute.
Attorney general R Venkataramani told a bench led by Chief Justice Surya Kant on Monday that the government was willing to consider a fresh request made by Reliance and its consortium partners. The apex court then postponed the hearing to July 21.
Also read: Krishna-Godavari Basin: SC agrees to fresh plea by Reliance to resolve dispute with Centre
The SC was hearing three appeals led by Reliance against a February 2025 decision of the Delhi High Court, which set aside a 2018 international arbitration ruling favouring the consortium in the $1.73 billion dispute with state-run Oil and Natural Gas Corporation.
While terming the arbitration award contrary to the settled position of law, the HC had accepted the government's plea that indicted Reliance and its foreign partners of committing an "insidious fraud" and "unjust enrichment of over $1.729 billion" by siphoning gas from deposits they had no right to exploit.
Attorney general R Venkataramani told a bench led by Chief Justice Surya Kant on Monday that the government was willing to consider a fresh request made by Reliance and its consortium partners. The apex court then postponed the hearing to July 21.
Also read: Krishna-Godavari Basin: SC agrees to fresh plea by Reliance to resolve dispute with Centre
The SC was hearing three appeals led by Reliance against a February 2025 decision of the Delhi High Court, which set aside a 2018 international arbitration ruling favouring the consortium in the $1.73 billion dispute with state-run Oil and Natural Gas Corporation.
While terming the arbitration award contrary to the settled position of law, the HC had accepted the government's plea that indicted Reliance and its foreign partners of committing an "insidious fraud" and "unjust enrichment of over $1.729 billion" by siphoning gas from deposits they had no right to exploit.
