 "Press and Journal, The Aberdeen (UK)")
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Pipeline approval boosts cairn shares
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Scottish oil and gas operator Cairn Energy saw its shares bounce
yesterday after it announced that its Cairn India subsidiary had
won a key approval for a pipeline to link its fields in Rajasthan to
markets.
The company's shares closed up 62p or almost 3.5% at pounds18.48
after at one point going as high as pounds18.87.
The company said the Indian government had given Cairn India
"rights of use" approval for land to lay the pipeline, putting it on
track to deliver 150,000 barrels of oil per day to refineries by 2010
from its Mangala, Bhagyam and Aishwariya fields in , north-west
India.
...
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