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Cairn Energy NEWS

£400 million loss for Carin Energy category
Sept. 12, 2018
Source: Energy Voice

£400 million loss for Carin Energy

Europe’s leading energy company, Carin Energy has reported £400 million loss in half-year. Admitting its mistakes, the company commented that regardless of its progress in North Sea this year, it has experienced heavy losses on “derecognition of financial assets”. Carin experienced pre-tax losses worth £383m in the first six month of 2018. CEO of the company has said that “Cairn has made strong progress across its balanced portfolio.”

BHGE grabs oilfield development contract in India category
Aug. 10, 2018

BHGE grabs oilfield development contract in India

Vedanta’s Cairn Oil and Gas has awarded the oilfield development contract for Mangala, Bhagyam and Aishwarya (MBA) fields to leading oilfield services provider, BHGE. The service provider will support Cairn with advanced technology solutions to deliver an integrated scope of oilfield services and equipment. The scope of the contract also involves the construction of 300 new wells and deployment of a chemical EOR programme.

Cairn Energy tax issue to see its final hearing category
March 14, 2018
Source: Economic Times

Cairn Energy tax issue to see its final hearing

In the year 2014, India had used a two year old legislation to raise a Rs.10, 247 crore retrospective tax demand on a decade old Cairn’s unit in the country. The British firm had initiated an international arbitration challenging the tax demand and the final hearing will begin in August, 2018 in The Hague.

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