Cairn India

  • SC dismisses plea challenging VedantaCairn deal May 9, 2013

    New Delhi: The Supreme Court on Thursday dismissed a plea which had challenged the validity of the CairnVedanta deal and said there was nothing malafide in the transaction. The court was hearing a petition challenging the validity of the $8.5 billion CairnVedanta deal and had sought a CBI probe into...
  • Cairn India makes new oil discovery in Rajasthan block April 9, 2013

    New Delhi: Cairn India on Tuesday said it has made the 26th oil discovery in its prolific Rajasthan block. The discovery follows allowing the company to explore for oil on block well after expiry of the exploration phase. "Cairn India has made its latest oil discovery, the 26th discovery so...
  • Cairn Energy selling 8 pc stake in Cairn India: Source September 25, 2012

    Mumbai: Cairn Energy is selling an 8 per cent stake in Cairn India for up to $940 million, a source with direct knowledge of the matter said, in a second such deal in three months to pare holding in its former Indian unit. Cairn Energy last year sold a controlling stake...
  • Oil Min wants Cabinet to decide on RIL's proposal August 22, 2012

    New Delhi: The Oil Ministry is likely to ask the Cabinet to decide on proposals of Reliance Industries and Cairn India to drill exploration wells in already producing oil and gas fields. While RIL has proposed to drill an exploration well on the flagging D1&D3 gas fields in the KGD6 block...
  • Cairn India CEO Rahul Dhir quits company August 8, 2012

    New Delhi: In a surprise announcement, Cairn India on Wednesday said its Managing Director and CEO of six years Rahul Dhir has quit the company. Dhir, who was the face of Cairn India since the time the firm's British promoters listed it on Bombay Stock Exchange (BSE) to make the company...
  • CairnVedanta deal: SC issues notice to Centre April 23, 2012

    New Delhi: The Supreme Court has issued notices to the Central Government, ONGC, Cairn Energy and Vedanta Resources on a petition that seeks criminal investigation and scrapping of the CairnVedanta deal that has allegedly caused huge loss to ONGC. The government had approved the acquisition of majority stake of Cairn India...
  • Vedanta to merge Sesa Goa, Sterlite Industries February 26, 2012

    Mumbai: Vedanta Resources plans to simplify its structure by placing all but one of its subsidiaries under the umbrella of a single unit, to be named Sesa Sterlite, as part of efforts to cut costs, improve access to cash and reduce the Indiafocused miner's debt burden. FTSE100 diversified miner Vedanta, which...
  • Cabinet gives final nod to CairnVedanta deal January 24, 2012

    New Delhi: The Union Cabinet on Tuesday gave final approval to Londonbased mining group Vedanta Resources Plc's acquisition of a majority stake in Cairn India Ltd for USD 8.48 billion. The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh cleared the deal this evening, highly placed sources...
  • Vedanta completes Cairn India acquisition December 8, 2011

    New Delhi: Mining group Vedanta Resources on Thursday completed the long delayed acquisition of oil producer Cairn India Ltd, after 16 months of protracted wrangling over royalty payments. Vedanta paid $8.67 billion for 58.5 per cent stake in Cairn India, the company said in a press statement. Ironore unit Sesa...
  • Ajay Kalsi: A selfmade man unafraid to take risks November 8, 2011

    Ajay Kalsi Age: 49 Profile: Founder and chief executive of Londonlisted oil and gas outfit Indus Gas Rank: 38 Wealth: $ 1.39 billion Did you know? He is building a new wave pool for his daughter who is fond of swimming. The pool is about the size of four Olympic pools. Ajay Kalsi of Indus Gas is...
  • CairnVedanta deal a step closer to completion September 15, 2011

    Mumbai: Oil explorer Cairn India said on Wednesday it had received approval from its shareholders to accept conditions imposed by the government necessary to clear Vedanta Resources' deal to buy a 40 per cent stake in the company. The approval moves the longdelayed stake sale, one of the largest in India's...
  • ONGC to decide on CairnVedanta deal on Sept 27 August 30, 2011

    New Delhi: Stateowned Oil and Natural Gas Corp (ONGC) on Tuesday said it may on September 27 decide on giving its consent to UK's Cairn Energy Plc selling majority stake in Cairn India to Londonlisted Vedanta Resources. ONGC, which holds stake in 8 out of the 10 oil and gas properties...
  • Cairn to finalise Vedanta deal in Sept: source August 11, 2011

    London: British oil explorer Cairn Energy expects to finalise a longawaited deal to sell control of its Indian business by midSeptember, bringing to conclusion a process that has dragged on for almost a year. India in June granted conditional approval for Vedanta Resources to buy a stake in Cairn India in...
  • Cairn Energy to accept all govt conditions August 7, 2011

    New Delhi: After resisting for almost an year, UK's Cairn Energy Plc has said it will accept all preconditions of the government to get approval for selling stake in its Indian arm to mining group Vedanta Resources. The Edinburgbased firm on August 3 wrote to Oil Secretary GC Chaturvedi saying it...
  • Oil Ministry approves Cairn, Vedanta deal July 26, 2011

    New Delhi: More than three weeks after the Cabinet Committee on Economic Affairs gave conditional nod to the $ 9billion CairnVedanta deal, the Oil Ministry on Tuesday sent a formal letter to the companies informing of the decision. "The letter was collected by Cairn India representatives this afternoon," an oil ministry...
  • Cairn's stock up after govt approves Vedanta deal July 1, 2011

    Mumbai: Shares of Cairn India surged by nearly 3 per cent in morning trade on the Bombay Stock Exchange after the government gave its approval for the sale of a stake to UKbased mining firm Vedanta, 10 months after the deal was first announced. The Cabinet...
  • CAG refuses to hear Reliance on KGD6 field audit June 26, 2011

    New Delhi: In a startling development, the Comptroller Auditor General (CAG) has refused to give Reliance Industries an opportunity to comment on its draft audit report that indicts the Mukesh Ambanirun firm for allegedly receiving undue favours from the Oil Ministry. The nation's top auditor turned down a request of the...
  • SEBI approves Cairn India deal: Vedanta chief April 5, 2011

    Mumbai: UKbased Vedanta Group on Tuesday said it has received market regulator SEBI's nod for a $9.6 billion deal to acquire a 51 per cent stake in Cairn India and will launch an open offer soon. "We have already received SEBI's approval for an open offer. The issue will open very...
  • Reliance bids for six oil and gas blocks March 28, 2011

    New Delhi: Reliance Industries on Monday bid for six oil and gas exploration blocks while Cairn India submitted offers for two out of the 34 on offer in the 9th round of auction under the New Exploration Licensing Policy (NELP). Reliance bid for two deepsea blocks in the Andaman Basin in...
  • Govt likely to clear CairnVedanta deal March 3, 2011

    New Delhi: After keeping it on tenterhooks for months, the Government looks set to clear Londonlisted mining group Vedanta Resources' $9.6 billion acquisition of Cairn India without any significant precondition. This follows the Oil Ministry watering down preconditions it had set for Vedanta to buy a 51 per cent stake from...
  • Cairn India strikes oil in KrishnaGodavari basin August 23, 2010

    Mumbai: India's fourth largest oil and gas producer, Cairn India, on Monday said it has struck oil at a well in the KrishnaGodavari basin, off the Andhra Pradesh coast. "A flow of 75 barrels per day of oil and 0.27 million cubic feet per day of gas was achieved during drill...
  • Vedanta to buy majority stake in Cairn India August 16, 2010

    Mumbai: Global metals and mining major Vedanta Group on Monday said it will acquire 51 per cent to 60 per cent of oil producer Cairn India in a deal worth $ 8.59.6 billion. The allcash deal will see Vedanta Resources Plc hold a 31 per cent to 40 per cent...
  • Forbes India: the man who finds oil, strikes gold June 30, 2009

    Few contrasts could be starker than the sandy, brown landscape of the Thar dotted with camels and chinkaras, when juxtaposed against the cold, white expanse of western Greenland where surface transport is still largely by husky sledges. The two regions have little in common, but not for Mike Sniffer Watts. In...
  • Many firms show interest in Cairn crude June 19, 2007

    New Delhi: Cairn India's Rajasthan crude oil will begin flowing from 2009 but the company and its 30 per cent partner ONGC have already found customers in the form of both private and public sector oil retailing companies. Private sector refiners Reliance and Essar Oil and staterun firms Bharat Petroleum and...