India to Auction 70 Oil and Gas Blocks Next Month

Citing junior oil minister Jitin Prasada, Dow Jones Newswires reports that India intends to offer up to 70 oil and gas exploration blocks next month.

Speaking to lawmakers Thursday, Prasada is quoted as saying, "Since the New Exploration and Licensing Policy came into force, 203 new blocks have been given for exploration, and now in the next month, 70 more blocks will come up for bidding."