Cairn quiet about MoU for Rajasthan refinery
Cairn Energy is increasingly irritated at reports that it is about to sign two MoUs with ONGC: for a refinery in Rajasthan and for the supply of crude from Mangala to ONGC-owned Mangalore Refineries.
Were in discussions with ONGC about lots of things, says Cairn. But until something is signed its foolish to talk about it.
Adds an analyst: MRPL has been nominated for Mangala crude. A COSA (Crude Oil Supply Agreement) for it will happen sooner or later.
But a refinery is something else. Raha wants it but its a secondary issue for Cairn.
In private, we hear Cairn is having a hard time understanding Rahas mind. Cairn doesnt know what he wants, we hear.
Why is he insisting on a MoU Cairn doesnt have the money to fund a refinery. Cairn chairman Bill Gammell was in Rajasthan last weekend for a BBC World documentary.
Hes just came, we hear. I doubt hell be back for a while at least.
