In a rare move, the government of India has refused to renew Vedanta’s contract for operating the CB-OS/2 offshore oil and gas block in Gujarat’s Cambay basin, directing state-run Oil and Natural Gas Corporation (ONGC) to take interim control of the asset. The production sharing contract for the block expired on 30 June 2023, and the Union ministry of petroleum and natural gas (MoPNG) has decided against granting an extension to the Anil Agarwal-promoted company. Vedanta has challenged the government’s decision in the Delhi High Court. The case was mentioned on Monday, but justice Sachin Datta recused himself and it will be heard by another bench. The CB-OS/2 block, discovered in the late 1990s, has been producing around 3,400 barrels of oil and 340,000 standard cubic meters of gas d

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