$600 million at stake as govt resurrects old dispute with oil biggies

New Delhi: The government is considering referring to a panel of experts an old dispute with Reliance Industries, ONGCNSE -1.90 % and half a dozen other oil firms over how much penalty explorers must pay for unfinished minimum work programme in blocks awarded in previous exploration rounds.

The government has claimed about $600 million in penalty from companies, including $380 million from Reliance and a little more than $100 million from ONGC, people aware of the matter said.