Cairn Energy

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ONGC to speed up development of KG gas finds

Jul 22, 2014 at 19:17 | Source: FirstPost

New Delhi: State-owned Oil and Natural Gas Corp (ONGC) will fast-track development of natural gas discoveries in its Krishna Godavari basin block with first gas planned no later than 1 April 2018.ONGC has made 11 oil and gas discoveries in the Block ...

India Inc hopes Arun Jaitley will put the economy back on track

May 28, 2014 at 05:52 | Source: Economic Times

MUMBAI: India Inc, battered by rising interest rates and policy deadlock, looks forward to an easing of the pain of doing business and measures to spur growth as Arun Jaitley takes charge at North Block. Jaitley, they feel, faces the biggest challeng...

India needs to resolve tax issues with MNCs: Bill Gammell

May 19, 2014 at 12:46 | Source: Economic Times

LONDON: India's new government needs to resolve taxation issues dogging multinational companies if it wants to encourage foreign direct investment, said Bill Gammell, who retired last week as chairman of Cairn Energy. "I think it is recognised that I...

2014 Lok Sabha elections: Ten stocks in focus in Friday morning trade

May 16, 2014 at 08:21 | Source: Economic Times

NEW DELHI: Indian markets are expected to open lower on Friday tracking muted trend seen in SGX Nifty and other Asian markets. However, the index is likely to remain volatile and traders should maintain strict stop losses while trading, say experts. ...

Cairn India buys less than 2% in share buy back

Apr 24, 2014 at 20:01 | Source: Economic Times

NEW DELHI: Billionaire Anil Agarwal's Cairn India has bought less than 2 per cent of the 17.09 crore shares it is looking to buyback to give the mining baron greater control over the nation's largest private oil producer. Cairn on January 23 launched...

Ten stocks in focus in Thursday morning trade

Apr 17, 2014 at 08:46 | Source: Economic Times

NEW DELHI: Indian markets are expected to trade in a range on Thursday following positive trend seen in other Asian markets. The Nifty has finally broken the rising channel and closed below the same. This further increases the probability of wave 2/...

Cairn keeps local exit on the boil

Apr 17, 2014 at 03:17 | Source: Calcutta Telegraph News

New Delhi, April 16 (PTI): Undeterred by the income tax department’s restrictions, Cairn Energy Plc has sought fresh approval from shareholders to sell its 9.65 per cent stake in Cairn India when such curbs are lifted. In January, the income t...

Cairn Energy suffers fresh tax trauma

Apr 04, 2014 at 21:07 | Source: Calcutta Telegraph News

New Delhi, April 3: Cairn Energy has been slapped with two more tax notices, which the Scottish explorer plans to counter vehemently. Cairn already faces a potential tax demand on an alleged Rs 24,500-crore capital gain it made when in 2006-07 it tr...

Why Rajasthan's Barmer is a high-stake Lok Sabha constituency for politicians

Mar 30, 2014 at 07:16 | Source: Economic Times

BARMER, RAJASTHAN: In 2002, Lalit Kumar Kiri was struggling with the inevitable question that confronts high teens - "what next?" Kiri is a trained pharmacist, but he hated his family's pharmacy business in Barmer, the behemoth of a district in west ...

Cairn buyback trips on tax tiff

Mar 19, 2014 at 03:41 | Source: Calcutta Telegraph News

Mumbai, March 18: Cairn Energy Plc, the British oil and gas explorer, today suspended its $300-million share buyback programme because of a raging tax dispute in India that dates back to 2006. The tax tangle has stalled its plans to pull out of Indi...

Losses mount for Edinburgh-based Cairn Energy

Mar 18, 2014 at 17:12 | Source: BBC

Edinburgh-based oil and gas explorer Cairn Energy has reported a pre-tax loss of $1.1bn (£660m) for 2013 up from $194m (£116m) loss the previous year. It followed a number of unsuccessful drilling projects. This week Cairn announced a well in Moroc...

Cairn Energy halts share buy-back after Indian tax probe

Mar 18, 2014 at 15:59 | Source: NDTV Profit

London-listed oil and gas explorer Cairn Energy said it would halt a $300 million share buy-back programme while Indian tax authorities assess income taxes dating back seven years. The company made the announcement on Tuesday as it reported a 2013&am...

Cairn reports 2013 loss after cost of unsuccessful drilling rises

Mar 18, 2014 at 14:46 | Source: Economic Times

LONDON: London-listed oil and gas explorer Cairn Energy posted a $556 million loss after tax in 2013 after high costs for unsuccessful drilling in Morocco and the North Sea. The company's costs for unsuccessful exploration rose 34 percent year on yea...

Cairn Energy halts $300 million share buy-back after income-tax probe

Mar 18, 2014 at 14:46 | Source: Economic Times

NEW DELHI: Scottish explorer Cairn Energy plc on Tuesday said it has suspended a $300 million share buyback as it is unable to sell its 10 per cent stake in Cairn India due to a tax dispute. Cairn Energy had in October last year announced a $300 mil...

Cairn Energy chairman Sir Bill Gammell to step down

Mar 03, 2014 at 15:37 | Source: BBC

Cairn Energy founder Sir Bill Gammell is to step down as chairman after more than two decades on the board of the oil company. He will leave the post in May to be replaced by Ian Tyler, former chief executive of Balfour Beatty. Sir Bill was Cairn...

Cairn Energy reassures on Indian tax rules compliance

Feb 01, 2014 at 12:37 | Source: Economic Times

Facing a potential tax demand on an alleged Rs 24,500 crore of capital gains it made on transferring India assets to a new company, Scottish explorer Cairn Energy plc today said it was fully compliant with the tax legislation in force when it operat...

Cairn denies tax dodge

Feb 01, 2014 at 04:37 | Source: Calcutta Telegraph News

New Delhi, Jan. 31: Scottish oil explorer Cairn Energy today said it was fully compliant with Indian tax laws during the period a tax claim was made on the company for transferring its Indian assets to a new entity. “Cairn has reconfirmed with...

Diageo buys majority stake in India's United Spirits

Jan 30, 2014 at 17:07 | Source: BBC

UK drinks giant Diageo is buying a majority stake in India's United Spirits group for £1.28bn ($2.04bn). Diageo, whose brands include Johnnie Walker, Guinness and Smirnoff, will get a 53.4% share in Indian liquor baron Vijay Mallya's Unite...

Income-Tax Dept asks Cairn Energy to hold shares in Indian subsidiary

Jan 25, 2014 at 16:27 | Source: The Hindu BusinessLine

UK-based Cairn Energy PLC has said that the income-tax department has instructed the company to hold its shares in the Indian subsidiary Cairn India. “Cairn has been contacted by the Income-Tax Department to discuss income-tax assessments for ...

Tax spanner in Cairn selloff

Jan 25, 2014 at 07:17 | Source: Calcutta Telegraph News

New Delhi, Jan. 24: The income tax department, probing Cairn Energy’s transfer of Indian assets, has asked the British company not to take any steps to sell a part of its 10.3 per cent stake in Cairn India. The department feels it can gouge ou...

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