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Posts on ‘August 15th, 2010’

The giant oil field in India sold for a song by Shell

“…sold for a song by accident-prone Royal Dutch Shell yielded Cairn one of the country’s largest-ever finds and catapulted it into the FTSE 100.”


Cairn shareholders set for £1bn windfall when Indian oil fields are sold to Vedanta

Shareholders in Cairn Energy are in line for a windfall of at least £1bn, with the oil explorer close to completing a £5bn deal to sell its giant Indian oil fields to Vedanta Resources.

By Rowena Mason
Published: 10:58PM BST 14 Aug 2010

The Greenland explorer may confirm the move to sell a 51pc stake to London-listed Vedanta as early as today, after last-minute talks throughout the day yesterday.

Sir Bill Gammell, the chief executive of Cairn, would receive a minimum of £2m from his 0.2pc stake in the explorer if the pay-out were as low as £1bn.

Most investors expect the amount of money given back to them to run into multiple billions, however. The final cash return has not yet been finalised. read more and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.
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