Business Daily from THE HINDU group of publications
Monday, Dec 11, 2006
ePaper
Business Daily from THE HINDU group of publications Monday, Dec 11, 2006 ePaper |
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Corporate
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Corporate Disputes Industry & Economy - Petroleum Markets - IPOs Our Bureau
New Delhi , Dec. 10 Cairn India Ltd has said that it expects to resolve the row over building a pipeline to send crude oil from its western India oil fields in the next few months with public sector Mangalore Refinery and Petrochemicals Ltd (MRPL). MRPL, a subsidiary of Oil and Natural Gas Corporation (ONGC), has raised objections about statements in Cairn India's draft red herring (DRHP) prospectus claiming the Union Government and its nominee, MRPL, are responsible for building a pipeline to move crude from fields in Rajasthan. The CEO of Cairn India, Mr Rahul Dhir, said that, "We are working hard for a solution. We are hoping to get it resolved by middle of next year." "But we have time. Our production would be only from 2009," he said.
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