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Cairn India to spend $1 billion on buyback: Bloomberg

(Reuters) - Cairn India Ltd <CAIL.NS>, oil and gas unit of London-listed Vedanta Resources <VED.L>, is set to spend about $1 billion to buy back shares, Bloomberg reported on Sunday citing two people familiar with the matter. The share purchase will include buying back Cairn Energy Plc's <CNE.L> 10.3 percent stake in the company, Bloomberg said citing one of the sources.

Cairn Energy says interim losses deepen

British oil and gas explorer Cairn Energy posted widening first-half losses on Tuesday, because of big write-downs, but also outlined plans for a new drilling campaign starting in September. Losses after taxation grew to $217.4 million (163.1 million euros) in the six months to June 30, Cairn Energy said in a results statement. That compared with a shortfall of $84.2 million in the same part of 2012.

Cairn India plans $2 bn investment, shares rise

Shares of oil producer Cairn India rose nearly three percent Monday after the explorer said it plans to invest $2 billion to raise output by more than 70 percent at its oilfields in the country's northwest. Shares of Cairn India, part of Britain-based resources giant Vedanta, controlled by tycoon Anil Agarwal, climbed 2.9 percent to a high of 285.6 rupees in trading on the Bombay Stock Exchange.

Cairn India plans $2 bn investment, shares rise

Shares of oil producer Cairn India rose nearly three percent Monday after the explorer said it plans to invest $2 billion to raise output by more than 70 percent at its oilfields in the country's northwest. Shares of Cairn, part of Britain-based resources giant Vedanta, controlled by tycoon Anil Agarwal, climbed 2.9 percent to a high of 285.6 rupees in trading on the Bombay Stock Exchange.

Cairn Energy posts slumping 2012 net profits

British oil and gas explorer Cairn Energy said on Tuesday that net profits slumped last year as income from oil output fell sharply after the group slashed its stake in Cairn India. Edinburgh-based Cairn said in a statement that earnings after taxation sank to $72.6 million (56.1 million euros) in 2012. That compared with a far larger net profit of $4.1 billion in 2011 following the agreed sale of the majority of its Indian division to Vedanta Resources.
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