03 November 2012

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CAG Oil Ministry agrees Reliance Industries Limited Demands Unconstitutional

CAG Oil Ministry agrees Reliance Industries Limited Demands Unconstitutional

Few days back the IAC leader, a new of hope Indian educated citizens Arvind Kejriwal alleged that both the Congress and BJP had helped RIL make extra money from it.

Mr. Kejriwal also said that the previous minister, Jaipal Reddy, was removed because he was not allowing RIL to bend the contract to its benefit.

CAG is the only one Indian agency, which is trustworthy, and honest if any other is honest I do not know.

The Comptroller and Auditor General (CAG) has objected to the oil ministry for agreeing to Reliance Industries Limited's (RIL) conditions.

What are the conditions?

List of Conditions or demands

RIL wanted the CAG audit of the KG-D6 basin to be kept within the oil ministry and not made public and tabled in Parliament, as is the procedure

RIL also said that the audit should be carried out in its own premises and that it would give no other documents apart from those prescribed in the KG-D6 contract.

RIL had also wanted an assurance from the oil ministry that no "exceptional" procedure be inserted in the CAG audit.

CAG has written letter to Oil Ministry that why it had agreed to RIL's restriction. The CAG also said that it always summon relevant documents and papers from the oil ministry as well as the operator.

It also said that the final audit report will be presented to Parliament, which is mandated by law.

The D6 block in Andhra Pradesh's Krishna Godavari basin output is very low.

Output at the D1 and D3 fields in the KG D6 block has dropped to 26 million standard cubic metres a day (mscmd) from 60 mmscmd in 2010 and is now projected to fall to 20 mmscmd in 2014/15, never having reached the forecast peak flow of 80 mmscmd.

Now we must ask questions?

Why did government of India agreed to the conditions if they have not agreed then it is very good.

But if they agreed why agreed

Media has reported that CAG has refused to accept the conditions.

Reality views by sm –

Saturday, November 03, 2012

Tags: RIL CAG K6 Basin Conditions


MEcoy November 03, 2012  

nice article sm well done