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Cairn Energy sells stake in Greenland's Pitu block
The price of oil stayed around $100 a barrel in recent weeks on concerns about tanker traffic through the Persian Gulf. Traders worry that those shipments, which supply one-sixth of the world's exports, could slow if Western nations continue to confront I
23 Jan 2012, 10:56 PM IST 
Edinburgh-based explorer Cairn Energy plc said it has sold 30.6 per cent stake in Pitu block in the Baffin Bay Basin off the west coast of Greenland to Norway's oil and gas major Statoil ASA for an undisclosed amount.
