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Oil & Gas News

1. CAG vs RIL: financial audit or performance audit?
The Comptroller and Auditor General (CAG) has objected to the government’s move to narrow the scope of audit of Reliance Industries]operated KG]D6 block over alleged malpractices by the company. CAG is not inclined to conduct a routine audit while Reliance has argued that its contract with the government allows only financial audit, not a performance audit ] a stand that seems acceptable to the ministry of petroleum and natural gas. More…