23 Sep 2025 | 5 Mins Read
Vedanta shares surge as Indian government denies extension for oil block
Flipitmoney
The Indian Government denied Vedanta's request to extend the production sharing contract for the CB-OS/2 offshore oil and gas block in Gujarat. The block will revert to government control with ONGC taking over operations. The decision affects Vedanta Cairn Oil and Gas, a 40%-stakeholding subsidiary of Vedanta, along with partners ONGC and Invenire Energy.