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Market Chatter: India Seeks $30 Billion From BP, Reliance Industries for Missing Gas Production Targets

MT Newswires·12/29/2025 05:58:20
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05:58 AM EST, 12/29/2025 (MT Newswires) -- India is demanding BP (BP.L) and its local partner, Reliance Industries, pay $30 billion in compensation for failure to meet gas production targets at two deepwater fields in the Krishna Godavari basin, Reuters reported Monday, citing unnamed sources. An arbitration case between the government and the companies for the D1 and D3 fields has been ongoing since 2016. The parties concluded their final arguments on Nov. 7, 2025, while a verdict is expected in mid-2026, the news report quoted sources as saying. BP, Reliance Industries and India's Ministry of Petroleum & Natural Gas did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)