{"id":354103,"date":"2020-05-29T09:54:41","date_gmt":"2020-05-29T04:24:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=354103"},"modified":"2020-05-29T10:08:25","modified_gmt":"2020-05-29T04:38:25","slug":"cairn-initiates-arbitration-against-520-mn-govt-demand-over-discrepancies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cairn-initiates-arbitration-against-520-mn-govt-demand-over-discrepancies\/","title":{"rendered":"Cairn initiates arbitration against $520 mn govt demand over discrepancies"},"content":{"rendered":"<p>Cairn Oil &amp; Gas, a vertical of Anil Agarwal-controlled Vedanta Limited, has initiated arbitration against the government after it served a demand notice of $520 million on the company for alleged discrepancies in cost recovery in Rajasthan fields. <\/p>\n<p>The Directorate General of Hydrocarbons (DGH) had sought the amount in additional profit petroleum after an audit found discrepancies in the way capital expenses made on setting up the infrastructure to produce oil were booked. \u201cFollowing the government\u2019s demand, the company has initiated arbitration against the move,\u201d said a senior government official. <\/p>\n<p>Cairn refused to comment on the issue. The arbitration notice was initiated on May 14, a day before the expiry of the production sharing contract (PSC).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairn Oil &amp; Gas, a vertical of Anil Agarwal-controlled Vedanta Limited, has initiated arbitration against the government after it served a demand notice of $520 million on the company for alleged discrepancies in cost recovery in Rajasthan fields. The Directorate General of Hydrocarbons (DGH) had sought the amount in additional profit petroleum after an audit found discrepancies in the way capital expenses made on setting up the infrastructure to produce oil were booked. \u201cFollowing the government\u2019s demand, the company has initiated arbitration against the move,\u201d said a senior government official. Cairn refused to comment on the issue. The arbitration notice [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-354103","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=354103"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354103\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=354103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=354103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=354103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}