Cairn Energy

Africa

Cairn shares surge on Senegal well “connectivity”

Cairn Energy shares rose after revealing an appraisal well offshore Senegal confirmed “good connectivity” to another site drilled by the firm. The Edinburgh-based exploration and production firm said the results meant it was now on track to submit a development plan for the field to the Senegal government next year.

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Analysis: Climate change risk reporting rules leave energy firms open to greater scrutiny

31/08/2016

Carbon intensive companies should expect to face greater scrutiny over governance and climate change risks as a result of recent changes to corporate reporting. In the latest step in a campaign by environmental law charity ClientEarth, energy companies Cairn Energy Plc (Cairn) and SOCO International Plc (SOCO) have been referred to the Financial Reporting Council (FRC) for alleged breaches of reporting obligations under Section 414C of the Companies Act 2006. The claim made is that both companies failed to make adequate disclosures in their Strategic Reports 2015 about the risks posed to their businesses by climate change.

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