Cairn’s parent company, Vedanta, is entangled in a legal battle with MOPNG in the Indian Supreme Court
Cairn renews Barmer block PSC
Much-needed private capital for the upstream is closer to being unlocked, but legal uncertainties remain
Privately held Indian E&P firm Cairn Oil & Gas renewed a ten-year PSC with India’s Ministry of Petroleum and Natural Gas (MOPNG) for the Barmer oil block in the late October, de-risking a significant plank of the company’s planned $5bn investment programme in the country’s struggling upstream oil sector. The new contract will run until 2030, the initial licence to explore and produce oil and gas from the block having expired in May 2020. Increased contribution from private sector oil and gas producers to India’s crude output would be a much-needed fillip for the upstream sector. The share of India’s crude output delivered by private companies has been in long-term decline. Private/j
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
