No govt role in Cairn's royalty row with ONGC: Sources

Published on Mon, Jan 31, 2011 at 19:00 | Updated at Tue, Feb 01, 2011 at 22:35 | Source : CNBC-TV18
The government has denied of having any role in the Cairn India’s royalty row with ONGC, reports CNBC-TV18 quoting sources. According to government sources, the royalty row resolution is only under Production Sharing Contract (PSC) for Barmer oil field.
Government sources add that it can have views but cannot 'resolve' ONGC-Cairn row. “Cost recoverable royalty may impact government’s revenue,” it added. It is learnt that ONGC-Cairn row resolution can be solved only via dispute resolution mechanism.
The government has denied of having any role in the Cairn India’s royalty row with ONGC, reports CNBC-TV18 quoting sources. According to government sources, the royalty row resolution is only under Production Sharing Contract (PSC) for Barmer oil field.
Government sources add that it can have views but cannot 'resolve' ONGC-Cairn row. “Cost recoverable royalty may impact government’s revenue,” it added. It is learnt that ONGC-Cairn row resolution can be solved only via dispute resolution mechanism.