The companies want to drill exploration wells in already producing oil and gas fields.
Vedanta Resources has huge interests in India. The promoter and majority shareholder of Vedanta Resources, Anil Agarwal, also founded Sterlite Industries.
Former Indian Premier League chairman Lalit Modi failed in his appeal against a 90,000 pounds (approx Rs 74 lakh) libel award to former New Zealand captain Chris Cairns over match-fixing allegations.
The consortium has identified a high-value, high-risk prospect at the site.
Its three-year compounded growth rate is 119.8 per cent.
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
Cairn Energy Plc, which has 50 production blocks across the world, holds 10% in Cairn India.
The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure.
Facts on the Commonwealth Games to be held in Australia's Gold Coast:
Cairn India had written to the petroleum ministry about its plans for the block, said a person close to the development.
Rajneesh Gupta highlights all the important numbers from cricket World Cups held between 1975 to 2015.
Relieved after winning a libel suit against axed IPL Commissioner Lalit Modi, who had accused him of match-fixing, former New Zealand all-rounder Chris Cairns said he feels "complete vindication".
Lalit Modi's cup of woes seems to be overflowing. The axed IPL Commissioner lost a libel case to former New Zealand cricketer Chris Cairns on Monday and will have to pay 90,000 pounds (app Rs 73 lakh) in damages to the all-rounder.
Former New Zealand cricketer Chris Cairns has sued former IPL Chairman Lalit Modi in a London court claiming that his career was turned into "dust" because of the latter's tweet accusing him of corruption.
Former New Zealand cricketer Chris Cairns' libel suit against sacked Indian Premier League Commissioner Lalit Modi will come up for hearing in the London High Court on March 5.
Vedanta has acquired 58.5 per cent in Cairn India for a total consideration of $8.67 billion, the third-largest acquisition ever by an Indian enterprise globally.
ONGC, which partners Cairn India in its crown jewel oilfields in Rajasthan and seven other properties in India, has waived its preemption rights over the deal and given a no-objection certificate, sources privy to the development said.
The Home Ministry, while giving the security no-objection certificate (NOC), highlighted eight areas of concern, including 64 legal proceedings against Vedanta and its subsidiaries in various courts, sources privy to the development said.
RIL wants to drill an exploration well on the D1&D3 gas fields in the KG-D6 block, Cairn on the Rajasthan block.
Describing Ricky Ponting as the "elephant in the room", former New Zealand captain Chris Cairns has said that Cricket Australia (CA) needs to end his 16-year long Test career in order to move forward.
Cairn Energy Plc chief executive Bill Gammell described the 30-minute meeting as 'positive and constructive'.
Government wants Cairn India to agree to pay royalty and cess on its all important Rajasthan block.
Stars go for the loveliest holidays -- exotic locations with a lot of adventure thrown in. We bring you their travels in a special series.
The Supreme Court on Monday issued notices on a public interest suit challenging the role of the central government and state-owned Oil and Natural Gas Corporation in the deal between Cairn India and Vedanta Resources.
Mining conglomerate Vedanta Resources has completed the purchase of a 10 per cent stake in Cairn India from Cairn Energy, taking its total stake in the company to 28.5 per cent.
ONGC's return on investment becomes positive after govt makes Barmer block royalty cost-recoverable.
The announcement came just ahead of the meeting of a ministerial panel, headed by Finance Minister Pranab Mukherjee, to look into the Cairn-Vedanta deal which was struck in August.
Company will also launch a global road show from May 23 for the bond placement.
A Group of Ministers headed by Finance Minister Pranab Mukhejree is likely to meet on Monday to vet London-listed mining group Vedanta Resources' $ 9.6 billion acquisition of Cairn India.
'Freebies are yet be proven a 'pucca' vote-catcher. But don't say that to KCR because he takes pride in two things: His record of delivery and imagination,' says Shekhar Gupta.
A CCEA meeting is scheduled for tomorrow but the approval for the Cairn-Vedanta deal is not listed on its agenda so far.
The government will reserve the right to decide on the cost recoverability of royalty from Cairn India's block in Barmer while clearing Cairn Energy's sale of its Indian subsidiary to Vedanta Resources.
Vedanta had proposed to buy a 51 per cent stake in Cairn India for $9.6 billion in the middle of last year. The Cabinet Committee on Economic Affairs is expected to take up the issue next week.
The towering face of Kailash reminded us that we were but insignificant participants in a pilgrimage ritual that has played out over millennia for people of four major religions -- Hinduism, Buddhism, Jainism and Bon, notes Sonia Trikha Shukla.
Cairn India produces 125,000 barrels of crude oil per day (6.25 million tonnes a year) from Mangala oilfield, the largest among the 15 discoveries in the Rajasthan block RJ-ON-90/1.
State-run Oil and Natural Gas Corporation is expecting a resolution to the contentious royalty payment issue with Cairn India --for the Barmer oil fields--before it goes for a follow-on public offer (FPO) early next year.
ONGC, which is 30 per cent partner in Cairn India- operated Rajasthan oilfields, is obliged to pay royalty on entire crude oil produce from the blocks, even though its share is just 30 per cent.
Cairn Energy, which owns a 52.11 per cent stake in Cairn India, "has voted to accept (government) conditions", the company said.
The Securities and Exchange Board of India (Sebi) is unlikely to clear Vedanta Resources and Sesa Goa's open offer to the shareholders of Cairn India till the government approves the Cairn-Vedanta deal, according to officials familiar with the matter.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances