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India set to hold third oil, gas block auction under new policy


NEW DELHI: India announced a third round of auctions in a year for oil and gas blocks under a more liberal policy, targeting to raise as much as $700 million in exploration investments as the country seeks to cut its reliance on imports.

The South Asian nation is offering 23 oil and gas blocks, including 5 coal-bed methane areas, under the Open Acreage Licensing Program, according to an oil ministry statement on Sunday. 

Oil & Gas

   

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