Vedanta Ltd in focus after Govt rejects Cambay Basin oil block
Vedanta is in focus after the Indian government declined to extend the CB-OS/2 oil and gas block contract in Gujarat's Cambay Basin. Vedanta held a 40% stake alongside ONGC (50%) and Invenire (10%). The block, producing 3,400 barrels of oil and 3.4 lakh cubic meters of gas daily, is now temporarily administered by ONGC.