see if the pea brain board don't give any indication and if the money is coming in around dec I am out !! wasted time and money being in this stupid friigin usless company ! 1 billion and still and yet 7 billion in debt to the hill IAG and TLW and harbor all doing much better and even enq and genl lol nonsense
the share price here is shocking considering oil is sky high at fking 85 !!!!!! and this MF is at 190 !!!!! utter nonsense. I should have dumped this peace of usless turd and bought harbour. 10% up over the last few days.
Cairn Oil and Gas—Vedanta Group’s oil exploration and production vertical—will produce 50 per cent of the country’s total oil and gas requirements within two-three years in a bid to reduce oil prices. Vedanta Group’s chairman Anil Agarwal confirmed the development in a tweet. He further noted that the industry is appreciative of the government’s efforts to streamline the production process in order to boost production and attract more foreign investment.
“To reduce the oil price, Cairn Oil and Gas is committed to producing 50 per cent oil and gas of the country within [a] two-three years’ time. The entire industry appreciates the government efforts in streamlining the process to boost production and attract more global companies to invest in India,” Agarwal tweeted.
Earlier this year, the government had highlighted the issue of domestic oil production to reduce India’s import dependence in the energy sector and ease the petrol and diesel rates. “Can a diverse and talented nation like ours be so energy import-dependent?” Prime Minister Narendra Modi had pointed out then.
Petrol, diesel, and CNG fuels are highly priced as India imports 85 per cent of its crude oil requirements and around half of its natural gas requirements. While imported crude oil is converted into petrol and diesel, gas is utilised as CNG in automobiles and fuel in factories.
Earlier today, a government official told news agency PTI that state-backed oil marketing companies (OMCs) have started increasing the retail selling price of petrol and diesel with effect from September 28 and September 24, respectively. “Unless international prices relent, oil companies will have no option but to continue passing on the increase to consumers,” the official had said.
Lukoil, Russia’s largest oil company has moved to Senegal. Quite recently, Lukoil publicly declared that it finally agreed with Cairn Energy PLC to acquire a 40% interest in the Rufisque, Sangomar and Sangomar Deep (RSSD) project in Senegal for $300 million in cash. The agreement provides for a potential bonus payment to Cairn Energy of up to $100 million after the commencement of production. The transaction is subject to customary conditions, including approval by the Government. The blocks on the project cover 2,212 km2, located on the Deepwater shelf 80 km from the shore with a sea depth of 800-2,175 meters. The blocks include two discovered fields: Sangomar and FAN. Early 2020, the Sangomar field Final Investment Decision was accepted, and development began. The recoverable hydrocarbon reserves estimate of the Sangomar field total approximately 500 million. It is to be launched in 2023, with a designed production level of 5 million tons of crude oil per year. The RSSD project is currently implemented under a Production Sharing Agreement. Woodside is the project’s operator with a 35% stake, FAR (15%) and state-owned company Petrosen (10%). Lukoil’s portfolio is quite extensive, present in 32 countries worldwide and conducting geological explorations in Africa.