India’s plan to privatise 15 oil and gas blocks runs into opposition

National exploration and production (E&P) major ONGC is opposing the Indian government’s plans to offer private investors a controlling interest in 15 oil and natural gas blocks held by government-owned entities. Senior ONGC technologists and officials have taken up the issue with the Prime Minister’s Office, claiming handing over the 15 discovered oil and natural gas blocks will be counter-productive and will not achieve the stated goal of boosting production.