Industry & Economy
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Petroleum
`Enterprising' enterprise
Veteran media-watchers are somewhat surprised by the `enterprise' shown by some newspapers these days. Last Friday evening, the Director-General of Hydrocarbons (DGH) received 165 bids for oil and gas exploration projects that were on auction and, expectedly, the documents were bulky, as bidders were supposed to make their case for taking up the highly technical work of exploration in the deep sea and even in the on-shore blocks. Lo and behold, come Monday morning and some newspapers had already `analysed' the technical and financial data of the 165 bids and announced the probable allocation of blocks among the 66 foreign and Indian bidders! This was when the DGH announced that the bids would be opened for evaluation only on Tuesday.
Something similar happened in the allocation of blocks for coal bed methane (CBM) gas. In all, 10 blocks were on offer, out of which Anil Ambani's company is supposed to have bagged four. The company cried foul, sought legal opinion to say it should have got six, and forwarded the case to the Government to re-evaluate the bids. But the Government did even not bother to tell the company that since no formal announcement had been made about the successful bidders, how was the company so sure that it had got four blocks.
Our Bureau
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