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CRNCY vs. ETF Alternatives
Tuesday, Jan 215:29 PM
Tuesday, Jan 215:29 PM| 2 Comments
- Statoil (STO) says it may walk away from exploration in western Greenland, as its head of exploration says the licenses are costly and STO is being choosier where it explores.
- Royal Dutch Shell (RDS.A, RDS.B) is the operator on two of STO’s west Greenland licenses; Cairn Energy (CRNCY) operates the Pitu license, owned 30% by STO, and said today it is still considering plans to drill it.
Friday, Oct 182013, 11:24 AM
Friday, Oct 182013, 11:24 AM| Comment!
- No longer the energy-poor neighbor of OPEC members Algeria and Libya, Morocco is gaining attention from oil companies attracted by its stability relative to other parts of North Africa and encouraged by advances in geology and technology that indicate its potential for reserves offshore.
- Independent explorers have snapped up rights to explore offshore blocks over the past 18 months, and they're now making way for big players.
- BP announced a deal with Kosmos Energy this week to take a share in three offshore blocks, and Cairn Energy (CRNCY.PK) plans to begin drilling soon off the Moroccan coast; they follow Chevron (CVX), which said in January it had taken up three offshore blocks.
Thursday, Oct 72010, 1:21 PM
Wednesday, Aug 252010, 8:28 AMA senior official in India's oil ministry flatly denies state-run energy firms Oil & Natural Gas Corp. and GAIL India (GAILF.PK) may make a counteroffer for a stake in Cairn India (CRNCY.PK). There is "no chance" of a counterbid because the valuation from Vedanta (VDNRF.PK) is already "very high." |Wednesday, Aug 252010, 8:28 AM| Comment!
Tuesday, Aug 242010, 8:20 AM
Tuesday, Aug 172010, 12:22 PM
Monday, Aug 162010, 8:20 AMVedanta Resources (VDNRF.PK) plans to buy up to 60% of Cairn India (CRNCY.PK) for up to $9.6B, gaining a controlling stake in a firm with the potential to generate around 25% of India's oil and gas production. Analysts are skeptical: Vedanta has no experience with oil & gas, and there will be few synergies with its existing business. |Monday, Aug 162010, 8:20 AM| Comment!
Thursday, Aug 122010, 5:49 AMVedanta Resources (VDNRF.PK) is said to be in talks to buy assets or a multibillion-dollar equity stake in Cairn Energy (CRNCY.PK), a U.K. oil and gas exploration firm. It would mark a major strategy shift for metals producer Vedanta, which has had no experience with oil and gas exploration. In London trading, Vedanta -4.2%, Cairn +1.1%. |Thursday, Aug 122010, 5:49 AM| Comment!