Small oil, gas field bid extension raises questions over auction response

The Indian government has extended the bid submission deadline for the auctioning of 67 marginal oil and gas fields, which may be an indication of a poor response to the auction. While officials in Oil and Natural Gas Ministry declined to comment on the response to the auction, an industry source has said that shifting the October 31 deadline is an indication that responses have been poor or that the valuations submitted fell below government’s expectations.