Cairn Energy
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This article is part of the Mining and Metals project of Spinwatch |
Cairn Energy is an Edinburgh based oil and gas company who focus on exploration and drilling in South East Asia and Greenland. On 31st July 2011 the Indian government agreed an $8.5bn acquisition of Cairn's South East Asian wing Cairn India by Vedanta Resources, making it a 58% shareholder of Cairn Energy[1].
Contents
Political dealings over Vedanta Cairn deal
Vedanta secured a $8.5 billion takeover of Edinburgh oil company Cairn Energy's subsidiary Cairn India in July 2011. The deal was delayed due to investigations by the Indian government into Vedanta's environmental track record and ability to manage strategically important oilfields, and disagreements over royalty rates between Vedanta and Rajahstani state owned company ONGC, a 30% shareholder in Cairn's largest producing oilfield which is in Rajahstan[2][3]. When the Indian government demanded an investigation into Vedanta's controversial track record before agreeing to the Cairn deal, the British government stepped in to urge the deal along and prevent 'unnecessary delays', begging questions about why they were so keen on the takeover[4].
People
Executive Directors as of July 2011
- Simon Thomson - Chief Executive Officer
- Dr Mike Watts - Deputy Chief Executive
- Sir Bill Gammell, Non-Executive Chairman
- Jann Brown - Managing Director and Chief Finance Officer[5]
Non Executive Directors
Advisors
- Ernst & Young audit Cairn
- N M Rothschild & Sons Limited provide financial advice [7]
Clients
Publications
Contact
50 Lothian Road Edinburgh EH3 9BY
- T:+44 131 475 3000
- F:+44 131 475 3030
- www.cairn-energy.plc.uk
- pr@cairn-energy.plc.uk
Resources
Notes
- ↑ Richard Wachman Vedanta given green light for $8.5bn Cairn deal The Observer, Sunday 31 July 2011. Accessed 3/8/11
- ↑ Richard Wachman Vedanta given green light for $8.5bn Cairn deal The Observer, Sunday 31 July 2011. Accessed 3/8/11
- ↑ Amy Kazmin, June 30th 2011, Financial Times. 'Delhi approves Vedanta Cairn deal' Accessed 25/7/11
- ↑ Amy Kazmin, June 30th 2011, Financial Times. 'Delhi approves Vedanta Cairn deal' Accessed 25/7/11
- ↑ Cairn Energy website About, Board of Directors Accessed 3/8/11
- ↑ Cairn Energy website About, Board of Directors Accessed 3/8/11
- ↑ Cairn Energy website About, Company Advisers Accessed 3/8/11
