Govt pushes back deadline for oil & gas field auction

NEW DELHI: The government has postponed by three weeks the last date for bidding in the auction of 46 small oil and gas fields that were given up by ONGC and Oil

NEW DELHI: The government has postponed by three weeks the last date for bidding in the auction of 46 small oil and gas fields that were given up by ONGC and Oil India. Bidding for the auction, the first in over four years, was to close on October 31. While bidders had sought more data on the fields on offer to make decisions on bidding, an oil ministry official said the date was extended as the bids were closing during the Diwali holiday. Industry sources, however, said there were apprehensions about the response after prospective bidders complained about the quality and amount of data being made available.

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