Reliance Industries has denied reports that the Indian government has made $30 billion claim against the company and BP. In an exchange filing on Monday, December 29, the Mukesh Ambani-led company said that a news report which made the claims earlier is “factually incorrect."
The report had alleged that the Indian government was seeking more than $30 billion in compensation from Reliance and BP in an arbitration case, claiming the companies failed to produce gas from offshore fields.
The government made the claim during its submissions before a three-member arbitration tribunal that on November 7 concluded hearings on the 14-year-old dispute. The tribunal is expected to give its award sometime next year and the party that loses will most likely challenge it before the Supreme Court, news agency PTI quoted three sources aware of the matter as saying.
Rejecting the claims as “inappropriate and irresponsible”, Reliance Industries asserted: “There is NO claim of $ 30 Billion against Reliance and BP.”
Reliance said, “The contents of the report titled “India claims $30 billion from Reliance Industries, BP for underproduction from gas field, sources say” are factually incorrect. The publication of a report such as this based on unnamed and unidentified sources is inappropriate and irresponsible.”
Reliance Industries refutes claims
In its statement, Reliance Industries said that the claim made by government in relation to KG D6 Block is of the order of $ 247 million. It said the order has been “appropriately and consistently disclosed in its annual audited financial statements,” the company said.
What's next?
The company said the issues mentioned in the report are currently before the courts and will be decided in accordance with the laws of the country by its judicial system.
“Reliance Industries Limited, together with its partner BP has at all times complied with its contractual and legal obligations and take strong exception to mischaracterization of facts in the report,” the company added.
Reliance Industries Limited (RIL) is India's largest company by market capitalisation. The conglomerate is involved in sectors such as energy, retail, telecom and digital services.
The company's stock closed 0.8% down at ₹1,546 on Monday, 29 December 2025, according to National Stock Exchange.
