MNC oil giants want Indian firms out of bidding

MNC oil giants want Indian firms out of bidding

By agencies   |   Monday, 24 April 2006, 07:00 Hrs
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NEW DELHI: The latest round of bidding for oil and gas blocks in India under the National Exploration Licensing Policy 6, with recent road shows in Houston and London, has drawn the attention of global oil majors.

Some have reportedly asked the Indian government to keep local bidders out of this round. A U.S. lawmaker and a member of the House of Representatives Committee on Energy and Commerce, which oversees the oil industry, is calling for a level playing field for all contenders.

Member of the House Energy Committee and Congressman Paul Gillmor was in New York to ring the closing bell at Nasdaq on Wednesday.

Reacting to the reported demand by some US and European oil companies for firms like ONGC and Reliance to be kept out of the latest round of bidding for Indian oil and gas blocks, he said it was unrealistic.

The Republican from Ohio, who is also a member of the India Caucus, and recently led a Congressional delegation to India, said he expected Congress to ratify the Indo-US nuclear agreement by this fall.

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