Govt to launch oil block auctions in FY11 - official
MUMBAI (Reuters) – The government is likely to launch the next round of auctions for oil and gas block exploration in the current financial year ending March 2011, a senior government official said on Thursday.
The government has a new exploration licensing policy in place to facilitate exploration of oil and gas resources.
"We have already initiated the process. Typically it takes four to six months to launch the auction," said R.K. Sinha, production adviser to the Directorate-General of Hydrocarbons.
India has so far completed eight rounds of auctions for oil and gas exploration.
(Reporting by Prashant Mehra; Editing by Surojit Gupta)
(For more business news on Reuters Money visit www.reutersmoney.in)
- Tweet this
- Share this
- Digg this
- NTT DoCoMo to exit India, unload entire stake in Tata Teleservices - sources
- Apple, Google agree to pay over $300 million to settle conspiracy lawsuit
- UPDATE 2-FCC pushes back against criticism over Internet traffic plan
- Scolari says has chosen Brazil's World Cup squad
- New Microsoft CEO Nadella impresses Wall Street, stresses challenges
Japan's NTT DoCoMo will unload its 26.5 percent stake in loss-making Indian mobile phone joint venture Tata Teleservices and exit the country as it struggles with tough price competition, sources familiar with the matter said. Full Article | Quote