State-run Oil and Natural Gas Corporation is expecting a resolution to the contentious royalty payment issue with Cairn India --for the Barmer oil fields--before it goes for a follow-on public offer (FPO) early next year.
New Zealand Cricket have promised to support Brendon McCullum after former Test all-rounder Chris Cairns was acquitted of perjury in London despite evidence given against him by the Black Caps captain.
ONGC sought opinion from the second highest law officer of the country after its partner Cairn Energy Plc stated that the UK firm's sale of majority stake in Cairn India to Vedanta Resources will not trigger pre-emption rights of the state- owned firm, a top oil ministry official said.
Apparently making amends to past slip-ups, UK's Cairn Energy on Thursday courted the government and ONGC to clear-up "misgivings" on sale of majority stake in its Indian arm to Vedanta Resources.
It is not clear what will happen if the open offer is completed before the government approves the deal.
Cairn India is actively considering the option of evacuating its crude oil from Rajasthan through Viramgam in Gujarat
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
Government is yet to approve Cairn's deal to sell stake in Cairn India to Vedanta.
Firm to continue to press ahead with arbitration challenging new law on the tax, will seek $1 bn in damages
UK-based oil firm Cairn Energy plans to create a separate unit out of its Indian operations and sell at least 25 per cent shares of the new firm through an initial public offering.
The Supreme Court also sought CBI probe in the case.
UK-based Cairn Energy raised its estimates of oil at its three key Rajasthan fields, and said total potential production was now over 1,50,000 barrels per day.
India is massively underexplored, says Rahul Shir, CEO, Cairn India.
Relieved after winning a libel suit against axed IPL Commissioner Lalit Modi, who had accused him of match-fixing, former New Zealand all-rounder Chris Cairns said he feels "complete vindication".
India has won an international arbitration against British firm Cairn Energy on cost deducted by the operators of Ravva oil and gas field, off the Andhra coast, before payment of government's share of profit petroleum.
Cairn's contractual term for exploring and producing oil from the Rajasthan Block RJ-ON-90/2 expires in 2020 and the area is to return to the block licensee, ONGC.
New Zealand captain Brendon McCullum is 'very comfortable' with the evidence he gave against former all-rounder Chris Cairns, who was found not guilty of perjury and perverting the course of justice in a trial last month.
Former New Zealand captain Chris Cairns was charged in a north London police station on Thursday with perverting the course of justice.
British energy firm Cairn Energy Plc plans extensive exploration over the next 18 months its Rajasthan block, the site of India's largest oil discovery in almost two decades.
New Zealand all-rounder Chris Cairns will quit one-day cricket after the 2007 World Cup in the West Indies.
Cairn Energy of UK on Monday said its oilfield in Rajasthan contains more than 2.5 billion barrels of oil reserves.
In a setback to the Cairn-Vedanta deal, Solicitor General Gopal Subramanium has reaffirmed that the government can impose preconditions like equitable sharing of royalty in the all-important Rajasthan block for clearing Vedanta Resources' takeover of Cairn India.
British energy firm Cairn Energy Plc on Tuesday said it has discovered gas in its Rajasthan block, where India's largest oil find in more than two decades was made last year.
Cairn Energy Plc of the United Kingdom on Tuesday announced third significant discovery in Rajasthan this year, with gross in-place reserves of 400 million barrels.
The 33-year-old Cairns is nursing a hamstring injury he suffered while bowling in the opening game against India.
The UK-based Cairn Energy on Tuesday said it will seek government's "endorsement" and necessary consent for selling its majority stake in Cairn India to London-listed Vedanta Resources for $8.48 billion.
Billionaire Anil Agarwal-owned mining firm Vedanta Resources on Thursday said it is in talks to buy a stake in Cairn India, the company that owns the nation's largest onland oilfield.
Former New Zealand all-rounder Chris Cairns has reportedly been interviewed by British police in London regarding their investigation into allegations of corruption and match-fixing.
The government will reserve the right to decide on the cost recoverability of royalty from Cairn India's block in Barmer while clearing Cairn Energy's sale of its Indian subsidiary to Vedanta Resources.
Cairn Energy Plc chief executive Bill Gammell described the 30-minute meeting as 'positive and constructive'.
The company made the announcement on Tuesday as it reported a 2013 loss of $556 million after costs for unsuccessful exploration in Morocco and the North Sea soared.
Former Australia skipper Ricky Ponting has revealed before the London court that he was with New Zealand batsman Brendan McCullum when the latter received a phone call from Chris Cairns regarding business proposal linked to match-fixing.
Chris Cairns has taken three wickets in his final Test to leave England wavering on 225 for five in reply to the Kiwis total of 384 on day two of the third Test.
The Petroleum Ministry may have watered down its preconditions for approving mining group Vedanta Resources' acquisition of Cairn India, but the $9.6 billion deal will still hinges on no-objection from partner ONGC.
Cairn India on Wednesday said it will invest about $2 billion in the country over the next one and a half years for developing oil fields and building a pipeline which will deliver oil from Barmer in Rajasthan to the coastal areas of Gujarat.
Cairn India, which is developing the oilfields in Rajasthan discovered by its parent Cairn Energy in 2004, has started preliminary work on the pipeline to bring the oil to market, its chief executive said on Monday.
ONGC, which partners Cairn India in its crown jewel oilfields in Rajasthan and seven other properties in India, has waived its preemption rights over the deal and given a no-objection certificate, sources privy to the development said.
The board of Cairn India is opposed to accepting riders like sharing of royalty and payment of cess on the Rajasthan crude for getting government approval for its parent Cairn Energy's sale of a controlling stake in the company to mining group Vedanta Resources.
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
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