Scandoil  

RIL, BP and Niko issue Notice of Arbitration to Government of India


Published May 14, 2014
D6 block in India

Niko Resources Ltd. provides the following update.

Notice of Arbitration RIL, BP and Niko, the contractor group of the D6 block in India, have issued a notice of arbitration on May 9, 2014 to the Government of India seeking the implementation of the “Domestic Natural Gas Pricing Guideline 2014” notified on January 10, 2014.

The continuing delay on part of the Government of India in notifying the price in accordance with the approved formula for the gas to be sold has left the parties with no other option but to pursue this course of action. Without this clarity, the parties are unable to sanction planned investments of close to $4 billion this year. In addition, this will also delay the ability of the parties to appraise and develop other significant discoveries made last year.

Tags: Niko Resources Ltd.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml