Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, New Delhi, 23rd July, 2026: The Delhi High Court on Wednesday upheld the Centre's decision not to extend Vedanta Ltd's production-sharing contract (PSC) for the offshore Suvali oil block in Gujarat and to transfer its operations to Oil and Natural Gas Corporation Ltd (ONGC).
Justice Purushaindra Kumar Kaurav dismissed Vedanta's petition challenging the Ministry of Petroleum and Natural Gas's order dated September 19, 2025, which had rejected the company's 2021 application for an extension of the production-sharing contract signed on June 20, 1998.
Vedanta had also sought to quash the ministry's direction requiring ONGC to immediately take over the assets and operations within the contract area. The court, however, declined to grant the relief sought by the company.