- Cairn Energy said that an arbitral tribunal had indicated that a decision over the company's $1.4bn tax claim against the Indian income tax department would be made in the summer of 2020. 'The arbitral tribunal has indicated that, whilst it is not yet able to commit to a specific award release date, it expects to be in a position to issue the award in the summer of 2020,' the company said.

'Cairn continues to have a high level of confidence in the merits of its claims in the arbitration and is seeking full restitution for losses of more than US$1.4bn,' it added.

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