Cairn Energy

Cairn Energy

Cairn wins right to drill off Greenland

Oil company Cairn Energy has won permission to drill up to seven oil exploration wells off Greenland's west coast.

Cairn hit by delay in bid to sell £5.9bn India stake

CAIRN Energy has suffered another setback in a bid to sell a £5.9 billion stake in its Indian operations, being forced to extend the deal deadline by five weeks.

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Cairn India sale hits referral snag

THE $9.6 billion (£5.9bn) sale of a majority stake in Cairn India to Vedanta Resources hit fresh delays yesterday after the Indian government referred the deal to a panel of ministers.

Vedanta expecting approval of Cairn India deal in days

Vedanta Resources expects the Indian government to approve its long-pending deal to take control of Cairn India in the next few days, its chairman said yesterday.

Cairn chief Bill Gammell confident Vedanta deal will win Indian backing

SIR BILL Gammell, chief executive of Cairn Energy, yesterday remained confident of receiving official government approval on the sale of a majority stake the firm's Indian assets as the oil and gas explorer revealed record profits.

Cairn feels the heat

Time is running out for Sir Bill Gammell as he wrestles Indian bureaucracy to sell a £5.4bn oil stake

Cairn faces fresh delay over sale of Indian arm

CAIRN Energy's £5.4 billion plan to sell a majority stake in its Indian oil business has hit further delays after the country's oil minister said the deal would be scrutinised by India's cabinet next month.

New twist in Cairn's Indian sale saga

CAIRN Energy's sale of its Indian subsidiary to Vedanta Resources could be referred to the Indian cabinet.

Cairn rejects Indian royalty changes

Cairn India yesterday vowed to reject any change in royalty payment terms on its oil fields in Rajasthan that could hurt its value and in turn jeopardise Vedanta Resources' £5.4 billion acquisition bid for a majority stake.

Cairn frets over India deal delay

DELAYS last night continued to plague the £5 billion-plus sale of a majority stake in Cairn India to Vedanta Resources after India's state oil minister refused to give the green light on the deal until concerns over royalty payments are settled.

Cairn eyes 12 Greenland drill sites - and wins first Spanish block licences

CAIRN Energy has identified up to 12 drilling targets to begin its 2011 campaign off the coast of Greenland, while also being awarded its first two Spanish exploration licences. The Edinburgh-based oil and gas explorer said it would narrow the list of Greenland sites down to four in May in time for the summer drilling season, writes Peter Ranscombe.

Cairn gears up for more Greenland drilling with deal for two rigs

CAIRN Energy announced a significant step forward in its hunt for oil in Greenland yesterday, securing two rigs for its Arctic drilling campaign this year.

Rigs boost Cairn shares

SHARES in Cairn Energy rose after the company announced that two rigs had been secured for its Arctic drilling campaign this year.

Cairn among Greenland oil winners

COMPETITION to exploit the oil buried deep off the frozen coasts of Greenland has warmed up after the government announced the winners of a new round of exploration licences in Baffin Bay.

Scots oil company accused of secrecy over Arctic drilling

EDINBURGH OIL firm Cairn Energy has been accused of secrecy surrounding its safety precautions during pioneering deep sea oil drilling in the Arctic.

Scottish oil giant Cairn quits Bangladesh

CAIRN Energy yesterday announced its final withdrawal from Bangladesh - the country where discoveries in the 1990s helped its transformation into one of the UK's biggest companies - as the Edinburgh group continues its search for black gold in Greenland.

Cairn shares hit after drilling off Greenland strikes a blank

CAIRN Energy disappointed investors with a lacklustre report on its Greenland drilling project yesterday after it announced it had abandoned two of its three exploration wells at the end of the Arctic exploration season.

Cairn's shareholders back sale to Vedanta

Mining group Vedanta's proposed deal to buy a chunk of Cairn India came a step closer yesterday as shareholders of parent Cairn Energy overwhelmingly approved the deal, which could be worth up to $8.5 billion (£5.3bn).

George Kerevan: Why Scotland must not miss the High North boat

CONSIDER three recent events, each highly significant for Scotland's economic and political future. At the start of the week, Cairn Energy, the Edinburgh oil company, announced it had struck petroleum in the deep, untapped waters between Greenland and Canada.

Cheer as Cairn strikes first oil off Greenland

Investors yesterday welcomed news that Cairn Energy, the Edinburgh-based explorer, had struck oil for the first time off the coast of Greenland.

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