India's government placates opposition, but to auction oil, gas blocks

The Indian government has clarified that oil exploration and production (E&P) companies are eligible to bid in a competitive bidding process for 67 marginal oil- and gasfields. These marginal oil- and gasfields, which were formerly owned by State-owned E&P majors such as ONGC Limited and Oil India Limited (OIL), are up for auction to domestic and international oil majors following the failure of national oil companies to develop the assets.