Amid Steep Fall In Crude Oil Prices, Cairn India Misses Forecast In Third Quarter
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Domestic oil and gas exploration and production company In the quarter which ended December 2014, consolidated revenue of the company slumped 12% to Rs 3,504 crore as against Rs 3,982 crore in previous quarter on account of lower realizations of $68.1 a barrel.
As per the oil &
Cairn India also added that the production in Rajasthan surged by 10% at 1.8 lakh barrels of oil equivalent per day (boepd) in Q3. At the same time, it also revealed that the growth in production in offshore assets increased by 24%; and this was driven by operational interventions.
It also stressed that "Gas development continues in line with the target to double gas production through existing gas pipeline by Q4
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In the third quarter, Cairn India also recorded a fall of 23.7%
(Image: The Economic Times)
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