Finance Ministry starts cost audit of Vedanta's $800-900-mn Barmer pipeline

The Union finance ministry has started a cost edit of Vedanta’s $800-900-million pipeline, which carries crude oil from Barmer in Rajasthan to the Jamnagar district in Gujarat. Sources said the ministry has assigned accounting major Grant Thornton to look into whether or not there was a loss to the government in profit petroleum on account of the pipeline, which was not part of the production-sharing contract (PSC).

The petroleum and natural gas ministry recently gave Vedanta a 10-year extension to the PSC. It was supposed to expire on May 14, 2020, but would go on for another decade starting May