Canadian oil industry to lose more than $2bn

The Canadian oil industry could lose more than $2.1 billion (£1.3bn) this year. That’s according to a new report by research institute, the Conference Board of Canada. The fall could happen due to a “sharp and prolonged weakness in prices”. Last year the industry made a profit of $6 billion (£3.91bn), however now, prices are expected […]

Cairn confident of $5.4bn India sale

Cairn Energy expressed confidence that the sale of a 40% stake in their Indian arm, Cairn India, to Vedanta Resources would be completed. Cairn’s half yearly report revealed the deal, split into two stages, would bring in $5.4billion. Simon Thomson, Chief Executive, Cairn Energy PLC said: “Following approval from the Government of India, all parties […]