Brahmaputra Cracker and Polymer incurred a cost overrun of more than Rs 3,400 crore on its Assam Gas Cracker Project (AGCP) because of inefficient pre-project planning, the government the Comptroller and Auditor General (CAG) of India said. The CAG said this in a report tabled in Parliament. Brahmaputra Cracker and Polymer is a joint venture between GAIL (India), Numaligarh Refinery, Oil India, and the
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Vizhinjam port unable to use new wharf
Owing to structural shortcomings and insufficient infrastructure facilities, Vizhinjam port is unable to use a wharf, which was newly constructed at a cost of Rs 8.87 crore. A report by the Comptroller and Auditor General of India (CAG) shows facilities like compound wall, transit shed and storage facility were not available for the newly constructed wharf. Four years ago, the port depa
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CAG report finds fault at AP govt’s PPP contracts
The report of the Comptroller and Auditor General (CAG) of India on the public private partnership (PPP) port projects implemented by the Andhra Pradesh government was tabled in the State Legislative Assembly recently. The report identified some key faults on the part of the state government in designing the contracts
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CAG report finds fault with port development in Maharashtra
According to a recent report by the Comptroller and Auditor General (CAG), the Maharashtra Maritime Board failed to prepare any comprehensive plan with a long-term vision for minor ports in the state. The report on General and Social Sector, which was tabled in the state legislature, shows that the maritime board is developing the ports in the state in an ad-hoc manner owing to lack
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CAG team resumes audit of RIL’s KG-D6 operation
Following assurance from the union petroleum ministry, the officials of the Comptroller and Auditor General of India (CAG) resumed audit of the KG-D6 gas field operated by Reliance Industries (RIL). Recently, the team of CAG arrived at the Mumbai officie of RIL for this purpose. The CAG received assurance from the oil ministry that the auditing team would have acce
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Oil ministry takes efforts to ensure CAG’s audit
Union Petroleum Secretary Vivek Rae said his ministry was making all efforts to see that the Comptroller and Auditor General (CAG) is able to audit Reliance Industries' (RIL) spending on KG-D6 block. He said there have been some differences between CAG and RIL on the scope of audit but they are being resolved. He expressed hope that CAG would be able to resume audit by either month or early next
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CAG to conduct comprehensive audit
The Comptroller and Auditor General (CAG) will conduct two separate "performance audits" in the oil and gas sector. The first one pertains to the government's role in the supply and pricing of natural gas between 2007-08 to 2011-12, which will cover the pricing of RIL's KG-D6 gas, its allocation to various consumers and supply cuts due t
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Minister asks secretary to address RIL issue
Union Petroleum Minister Veerapa Moily asked the newly appointed oil secretary Vivek Rae to take steps to resolve the difference of opinion between Reliance Industries (RIL) and the Comptroller and Auditor General (CAG). Following the direction, Rae is reportedly making efforts to resolve some differences between the company and the auditor
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CAG complains against RIL to oil ministry
Reports indicate that the Comptroller and Auditor General (CAG) wrote to the union petroleum minister M Veerappa Moily that Reliance Industries (RIL) was not cooperating with the audit of the spending on the flagging KG-D6 fields. It is learnt that the company declined to share the documents related to its legal case against the oil mini
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Odisha govt received less guarantee from port developers
According to a report by the Comptroller & Auditor General (CAG), the Odisha government received less performance guarantee from minor port developers than that prescribed by the model concession agreement. For example, the developer of Astaranga port agreed to pay only 1 per cent performance guarantee as agai