Petrofac (LON:PFC) has been awarded a further operations and maintenance (O&M) contract with Cairn Oil & Gas, India’s largest private oil and gas exploration company.
Capricorn Energy – formerly Cairn – has withdrawn global legal proceedings against the Indian government, paving the way for a $1bn tax refund.
Nigerian claimants complaining that Shell had a duty to tackle oil spills have won a case in the UK Supreme Court.
“The child gold-diggers”. That was the title of a recent Sunday Times feature, which tracked illegally mined gold from the child miners of Ghana to the “clean” gold markets of Europe, via the Dubai gold souk.
Cairn India boss Mayank Ashar has quit decided to step down for personal reasons, just a month after the nation’s largest private oil producer posted its biggest quarterly loss.
Fund firm Aviva Investors said on Wednesday it opposed a $2.3 billion plan by Vedanta to buy out minority shareholders in Cairn India as the deal failed to deliver sufficient value. Aviva's UK equity team has a 4.3 percent stake in Cairn Energy, the original owner of Cairn India and still its largest minority shareholder. Its emerging market equity teams, meanwhile, both own stakes in Cairn India, it said. "As long-term investors, we believe that the timing of this deal is opportunistic and materially undervalues Cairn India, its current reserves and future prospects," Aviva Investors, part of insurer Aviva, said in a statement.