Award challenge upheld in Indian oil and gas dispute
Oil rig (Credit: istock.com/think4photop)
The English Commercial Court has partly upheld a challenge by India’s Reliance Industries and its partner BG Group to an UNCITRAL award issued in favour of the Indian government in a US$1 billion dispute over oil and gas fields, ruling that the tribunal’s failure to consider an issue relating to cost recovery had given rise to a “substantial injustice.”
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