RIL, Shell liability to government may drop in PMT case

NEW DELHI: Reliance IndustriesNSE 0.91 % (RIL) and partner Shell’s liability to the government may fall in the Panna, Mukta and Tapti (PMT) case after an English court passed an order favouring the two companies on some aspects of the ongoing arbitration proceedings, sources familiar with the development said.

The order is one step — but not the final one — toward the conclusion of a decade-old dispute between the government and joint venture partners RIL and Shell (formerly BG Exploration) over the state’s share of income from the PMT fields.

“We cannot comment as the court processes in various jurisdictions are still ongoing,” a Shell spokesperson told ET.