Reliance Industries denies $30 billion claim against the company and BP: ‘Inappropriate, irresponsible’

Key Highlights

• The tribunal is expected to give its award sometime next year and the party that loses will most likely challenge it before the Supreme Court, news agency PTI quoted three sources aware of the matter as saying.
• Rejecting the claims as “inappropriate and irresponsible”, Reliance Industries asserted: “There is NO claim of $ 30 Billion against Reliance and BP.” Reliance said, “The contents of the report titled “India claims $30 billion from Reliance Industries, BP for underproduction from gas field, sources say” are factually incorrect.
• The publication of a report such as this based on unnamed and unidentified sources is inappropriate and irresponsible.” In its statement, Reliance Industries said that the claim made by government in relation to KG D6 Block is of the order of $ 247 million.
• It said the order has been “appropriately and consistently disclosed in its annual audited financial statements,” the company said.
• The company said the issues mentioned in the report are currently before the courts and will be decided in accordance with the laws of the country by its judicial system.