Vedanta Oil And Gas Projects Pick Up As Crude Price Rises


Vedanta Oil And Gas Projects Pick Up As Crude Price Rises

The recent spurt in global crude oil prices has resulted in Vedanta, the metals and mining major, putting its development and exploration projects on a fast track but issues of cess and higher profit petroleum continue to be a concern.

Indian benchmark crude oil touched $61.54 a barrel on Thursday.

Speaking to Business Standard, Sudhir Mathur, newly appointed chief executive for the Cairn oil and gas business at Vedanta, said, “We have started investing in a $1-billion programme, which we expect to yield about 100,000 barrels of oil in the next 18-20 months. When oil prices go up, it allows us to take more risks. We had earlier decided to work on sweet spots first.” Read More…

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