India Claims $30b from Reliance Industries, BP for Underproduction

India is seeking over $30 billion in compensation from Reliance Industries and BP in an arbitration case for gas it says the companies failed to produce from offshore fields, according to three people with knowledge of the matter.

A tribunal has been hearing the dispute in India since 2016 over gas produced from two deepwater fields, D1 and D3, in the D6 block of the Krishna Godavari basin, seven individuals with knowledge of the proceedings said. Final arguments took place on November 7, they said.

The three-member tribunal is expected to deliver its verdict in mid-2026, two people aware of the hearing schedule said. The verdict can be challenged in Indian courts, several people said.

Reuters is reporting the case and India's $30 billion claim for the first time.

Reliance Industries said in a statement that the contents of the Reuters report were "factually incorrect" and "there is no claim of $30 billion against Reliance and BP".

"The matters referred to in the report are entirely sub judice and would be determined in accordance with the law. of the country," Reliance said in the statement.

A spokesperson for London-based BP, a Reliance partner in the fields, declined to comment.

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