The government has won a major portion of the $1 billion arbitration with Reliance Industries and British firm BG Group over recovery of cost in western offshore Panna/Mukta and Tapti oil & gas fields.

The government has won a major portion of the $1 billion arbitration with Reliance Industries and British firm BG Group over recovery of cost in western offshore Panna/Mukta and Tapti oil & gas fields.

Press reports indicate that the union government formed an inter-departmental committee to extend petroleum leases in producing oil and gas blocks. Recently, the committee, chaired by oil ministry's additional secretary & financial adviser (AS&FA) SC Khuntia, held its first meeting. However, the committee did not discuss any particular case because of absence of a key member, repo