Cairn Announces Cost Cuts

摘要

UK-listed Cairn Energy announced on Tuesday an organizational overhaul aimed at cutting costs, as the company narrowed its net loss to $62 million in the first half of 2014, from $219 million a year earlier when it was hit by impairments in India. Its operating loss increased to $125 million, compared with $108 million in the first half of 2013, after Cairn booked an $80 million exploration write-down related to the North Sea and offshore Morocco.