Reliance and Shell had through the arbitration sought raising of the limit of cost that could be recovered from sale of oil and gas before profits are shared with the government. The award came this year.
The government has challenged before an English high court an arbitration award over a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields of Shell and Reliance Industries Ltd.
An arbitration “tribunal gave a favourable award on January 29, 2021”, Reliance said in its latest annual report.
Reliance and Shell had through the arbitration sought raising of the limit of cost that could be recovered from the sale of oil and gas before profits are shared with the government. The award came this year.
Both sides filed clarification applications before the tribunal.
“On April 9, 2021, the tribunal issued its decision on the clarification applications of both the parties. It granted the minor correction requested by the claimants (Reliance and Shell) and has rejected all of the Government of India’s clarification requests,” it said without giving details. Subsequent to that, the government of India (GoI) has
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Plus, O.K.R.A. Charity Saloon has closed . but get ready for something new.
By
Timothy Malcolm
3/15/2021 at 1:13pm
Little Dipper now has a street patio.
On Thursday, the Organized Kollaboration on Restaurant Affairs (O.K.R.A.) announced that its O.K.R.A. Charity Saloon, which donated its profits to local charities ($1.3 million over eight years) will cease to be.
But also in the announcement O.K.R.A. revealed that the bar space has been transferred into the care of longtime saloon general manager Mary Ellen Angel, who purchased it from O.K.R.A. for $10. Angel plans to operate her own bar in the space, keeping the spirit of the saloon alive by donating a portion of the profits to charities.