Cairn Energy sues India to enforce $1.2 billion award

17 Feb 2021 Editorial Team

British energy company Cairn has filed a case in a US district court to enforce a $1.2 billion arbitration award that it had won in a tax dispute against India.

In December, an arbitration body awarded Cairn damages of more than $1.2 billion plus interest and costs.

The panel had opined that India breached an investment treaty with Britain and said New Delhi was liable to pay. The court filing showed that Cairn wants to enforce the award under international arbitration rules and recover losses caused by India’s "unfair and inequitable treatment of their investments".

Media reports say Cairn urged the US courts to confirm the award and payment due since 2014 and interest compounded semi-annually.

Cairn has not commented on the matter yet. In a Twitter post on February 9, it said Chief Executive Simon Thomson was looking forward to meeting India’s Finance Minister in Delhi next week.

Image: The court filing showed Cairn's intent to invoke the New York Convention.

Infrastructure Transport

17 Oct 2025

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..