Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Scottish oil and gas firm Cairn Energy said today that its partners’ North Sea Catcher and Kraken fields were expected to “enter their natural decline phase” this year.
A Scottish decarbonisation group has been successful in its bid to secure more than a million pounds to draw up an industrial emissions reduction roadmap.
Shares in Cairn Energy soared after the Scottish oil and gas firm announced it had prevailed in a long-running tax dispute with the Indian Government.
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
Cairn Energy will return £188 million to shareholders following completion of the sale of its Senegalese assets to Woodside.
Cairn announced today that Nicoletta Giadrossi will be appointed chairwoman of the Scottish oil company from January 1 2021.
Cairn Energy’s boss said today that the company was “in control of its own destiny” and would aim to capitalise on opportunities to beef up its portfolio, including in the North Sea.
Cairn Energy has abandoned plans to sell its stake offshore Senegal to Lukoil, abiding by Woodside Energy’s pre-emption.
Australia’s FAR did not exercise its right to pre-empt the sale of Cairn Energy’s stake in the Sangomar field, as the company works to find a buyer for its own interest.
Australian firm Woodside has moved to whisk the purchase of Cairn Energy’s 40% stake in the Sangomar project off Senegal out from under the nose of Russian firm Lukoil.
Russia’s independent Lukoil has struck a deal to pay $300 million to Cairn Energy for a 40% stake in a licence offshore Senegal.
Scottish oil firm Cairn Energy said today that Covid-19 should not significantly delay the long-awaited outcome of its £1.1 billion ($1.4bn) arbitration claim against India.
Italy’s Eni and Scottish firm Cairn Energy have reported disappointment offshore Mexico after an exploration well came up dry.
Australia’s FAR has been unable to secure financing for its stake in the Sangomar field development and so has begun a process to sell all, or a part, of its stake in the Senegalese project.
Oil majors BP and Shell were among the fallers as the FTSE 100 Index slid by 171.80 points, or nearly 3%, to 5,641.03 yesterday.
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020, although cash flow and project sanctioning will suffer, a Rystad Energy impact analysis shows.
Drilling firm Valaris is set to undertake drilling and subsea work at Premier Oil's North Sea Catcher field next week.
Scottish operator Cairn Energy has announced "significant reductions" to its capital expenditure across its North Sea producing assets.
This week’s oil price meltdown “won’t change” any short-term plans for Cairn Energy but could offer an opportunity, the Scottish oil firm’s boss said yesterday.
Scottish operator Cairn Energy has continued its drive for profit with positive full year results for 2019.
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Italian operator Eni has announced a new oil discovery off Mexico with up to 300million barrels in place.
Senegal’s government has approved the plan to develop the Woodside Energy-led Sangomar field.