Diversified mining and energy group Vedanta Resources Plc appointed Arun Kumar, the deputy chief financial officer, as its CFO.
The move comes as Vedanta Ltd., India's unit of Vedanta Resources, looks to complete its takeover of oil and gas explorer Cairn India Ltd. in early 2017.
The merger will boost Vedanta Resources' finances by giving it access to Cairn India's $3.5 billion cash pile, but has faced opposition from some big minority shareholders.
Kumar will take over from D.D. Jalan, who retired on Sept. 30, Vedanta Resources said. Jalan joined the company in 2001.
Shares of Vedanta Resources were down 1.2% at 584.5 pence at 1442 GMT on the London Stock Exchange, slightly outperforming a 1.7% fall in the FTSE 350 Mining Index.
Recommended Reading
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
2024-02-27 - Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
Sangomar FPSO Arrives Offshore Senegal
2024-02-13 - Woodside’s Sangomar Field on track to start production in mid-2024.
BP: Gimi FLNG Vessel Arrival Marks GTA Project Milestone
2024-02-15 - The BP-operated Greater Tortue Ahmeyim project on the Mauritania and Senegal maritime border is expected to produce 2.3 million tonnes per annum during it’s initial phase.
US Gas Rig Count Falls to Lowest Since January 2022
2024-03-22 - The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.