Vedanta may bag 40 of 55 oil and gas blocks under first OALP auction

Agarwal's company, in fact, outbid India's largest hydrocarbon producer ONGC, in a majority of the 30 blocks they were facing head-on

India’s first oil and gas auctions under the Open Acreage License Policy (OALP) is set to become an Anil Agarwal show, with the billionaire’s Vedanta Ltd likely to grab around 40 blocks of the 55 on offer.  

Agarwal’s company, in fact, outbid India’s largest hydrocarbon producer, Oil and Natural Gas Corporation (ONGC), in a majority of the 30 blocks they were facing head-on. Sources reveal state-run Oil India (OIL) has got at least eight blocks, more than what ONGC got during this round. This was after the bids opened on Tuesday.

Dilip Shanghvi’s Sun Petrochemicals and Selan Exploration Technology that