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| Articles about Cairn |
| Cairn India and ONGC finalise plan for joint development of Ambe, Tapti fields | | 2008-06-29 22:17:00 | | Cairn India and ONGC (Oil and Natural Gas Corporation) have near-finalised the plan for joint development of Ambe and North Tapti offshore marginal gas fields in the Gujarat coast.According to sources, the project will lead to natural gas production of 1.5 million metric standard cubic metre a day (mmscmd) from Cairn operated Ambe field and 2 mmscmd by ONGC’s North Tapti.The entire production of 3.5 mmscmd gas and associated oil will be processed at Cairn’s existing operations at Hazira. ONGC and Cairn have opted for the joint development route to optimise the investment in pipeline, processing and other infrastructure in these marginal fields.Ambe is a satellite gas field of Cairn (40 per cent) operated CB/OS-2 joint venture in Cambay basin.The other partners in the joint venture are ONGC and Tata Petrodyne. The satellite field, discovered in 2001, is surrounded by ONGC’s North Tapti.According to sources, the Cairn-operated joint venture has already pegged the estimated cost of ... | | By: Indian stock markets | | |
| | Cairn India speeds up on rally in crude oil price | | 2008-06-09 02:09:00 | | Meanwhile, the BSE Sensex was down 538.54 points, or 3.52%, at 15024.64, on weak cues from global markets. US stocks plunged on Friday, 6 June 2008, marking the Dow`s worst day in 15 months, after the US government said the May 2008 unemployment rate jumped the most in 22 years and oil prices shot to another record, renewing fears that the US economy faces 1970s-style stagflation.On BSE, 17.9 lakh shares were traded in the counter. The scrip had an average daily volume of 28.94 lakh shares in the past one quarter.The stock hit a high of Rs 304.90 and a low of Rs 285 so far during the day. The stock had a 52-week high of Rs 342.50 on 21 May 2008 and a 52-week low of Rs 131.30 on 12 June 2007.The scrip had outperformed the market over the past one month till 6 June 2008, gaining 2.42% compared to the Sensex`s 8.83% decline. It had also outperformed the market in the past one quarter, rising 36.80% compared to Sensex`s 2.52% fall.The large-cap private sector oil exploration firm has an eq... | | By: Indian stock markets | | |
| | Cairn India strikes all time high | | 2008-05-07 05:32:00 | | Meanwhile, the BSE Sensex was down 29.80 points, or 0.17%, to 17,344.43On BSE, 68.73 lakh shares were traded in the counter. The scrip had an average daily volume of 13.74 lakh shares in the past one quarter.The stock hit a high of Rs 283.50, which is also its all time high on BSE. The stock touched a low of Rs 261 so far during the day. The stock had hit a 52-week low of Rs 128 on 9 May 2007.The large-cap scrip had outperformed the market over the past one month till 6 May 2008, gaining 14.65% compared to the Sensex`s return of 10.26%. It also outperformed the market in the past one quarter, advancing 23.79% compared to Sensex`s decline of 4.23%.The company`s current equity is Rs 1892.19 crore. Face value per share is Rs 10.On 6 May 2008, Cairn India rose 1.67% to Rs 260.75 after Goldman Sachs Group Inc. raised the stock`s price estimate by 14% to Rs 325 per share.Cairn India reported higher net loss of Rs 24.31 crore in Q1 March 2008 as compared to net loss of Rs 8.54 crore in Q1 Mar... | | By: Indian stock markets | | |
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| | L&T to complete Cairn's crude oil pipeline by June 2009 | | 2008-04-09 23:31:00 | | Engineering and construction major Larsen and Toubro (L&T) on Wednesday said it would complete a 585 km pipeline for evacuation of crude oil from Cairn India’s Rajasthan field by June 2009 in sink with the company’s oil production plans.“We are talking of project completion to merge evacuation of crude that is planned for second half of 2009,” L&T’s president (operations) K Venkataramanan said.Cairn had awarded a Rs600-crore contract to L&T in February for the laying of a heated pipeline for transporting crude oil from Barmer in Rajasthan to Salaya in Gujarat.He said the pipeline would be commissioned by June 2009 and some balance work, including the laying of additional spur lines would be done by December 2009.“There are restoration works of the land that would stretch to end 2009,” he said, adding, the work would not impact transportation of crude oil.Cairn India plans to start pumping crude oil from its Rajasthan field by third quarter of 2009 and a pipeli... | | By: Indian stock markets | | |
| | Cairn India net drops for FY 07; shares down 6% | | 2008-03-31 01:40:00 | | Cairn India, on consolidated basis registered increase in loss for the year ended Dec. 31 2007. During the period, net loss rises 15.92% to Rs 245.442 million as against Rs 211.742 million in the year ended December 2006. Total income rose phenomenally 25.46 times to Rs 11,446.716 million for the year ended December 2007 from Rs 449.632 million for the year ended Dec. 31, 2006. On Standalone basis, Cairn India loss widened in the year ended December 2007. The company`s net loss widens 2.69 times to Rs 788.16 million in 2007 from Rs 292.24 million for the year ended Dec. 31, 2006. Total income rose 5.75 times to Rs 339.62 million for the year ended December 2007 from Rs 59 million for the year ended Dec. 31, 2006. Shares of the company declined Rs 11.8, or 5.13%, to trade at Rs 218.3. The total volume of shares traded was 607,965 at the BSE. (10.27 a.m., Monday). ... | | By: Indian stock markets | | |
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| Cairn pipeline another road block | | 2008-03-22 01:54:00 | | Cairn India’s efforts to raise the nation’s crude oil output has hit another roadblock with the Rajasthan government stopping work on a pipeline needed to transport the precious commodity to refiners saying it would result in loss of tax revenues to the state.Though Rajasthan is not opposed to crude oil being taken to refineries outside the state for processing, it fears loss of sales tax, in the form of VAT, revenues if the delivery point of the output from Cairn’s Barmer fields is shifted.The state government has stopped work on giving right of user (RoU) for the pipeline being built to transport the oil to Gujarat coast, official sources said.Cairn has asked the oil ministry to shift the delivery point to Salaya in Gujarat where its proposed Rs 12,000 crore pipeline is to terminate. Shifting of the delivery point will allow Cairn and its 30% partner ONGC to recover the money spent on the pipeline from crude sales. If this is not done, the partners would have to bear the cost t... | | By: Indian stock markets | | |
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