{
  "id": 20133605,
  "title": "ONGC takes Cambay; Vedanta books Rs 379 cr hit",
  "url": "https://urgent.news/2026/11/15/ongc-takes-cambay-vedanta-books-rs-379-cr-hit",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-15T06:52:00.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/energy/oil-gas/ongc-takes-over-disputed-cambay-block-from-vedanta-anil-agarwal-firm-books-rs-379-cr-impairment/articleshow/135849361.cms"
  },
  "original_language": "en",
  "account": "State-owned Oil and Natural Gas Corporation (ONGC) assumed control of the contested Cambay offshore block from Vedanta Oil & Gas Ltd, following a Delhi High Court decision, as per the companies' regulatory disclosures. Vedanta acknowledged a Rs 379 crore impairment charge related to the block's assets and receivables. The takeover became effective on July 22, 2026, after the High Court rejected Vedanta's appeal against the government's refusal to extend the production-sharing contract. Vedanta held a 40% interest in the block, while ONGC owned 50% and Invenire Petrodyne Ltd held the remaining 10%. The government had not extended the contract and ordered ONGC to take over the block. Vedanta had challenged the decision in the Delhi High Court on September 22, 2025. The contract for Cambay expired on June 29, 2023, and Vedanta and its partners had sought an extension in June 2021, which was denied under the government's 2017 extension policy. The legal dispute remains unresolved, with Vedanta appealing the High Court's single-judge order.",
  "summary": null,
  "key_points": [
    "ONGC takes Cambay block from Vedanta after High Court ruling",
    "Vedanta books Rs 379 cr impairment charge on Cambay assets",
    "High Court rejects Vedanta's appeal against government decision"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}