An Indian Civilizational Perspective

Indian Oil Assets Bidding: US Lawmakers – no one but us to bid!

Look at this news item… To me its looks downright bizarre!! Specially coming an industry and lawmakers who were up in arms against the Chinese Petroleum company which was buying a US Oil & Gas company in a clear market transaction!! These jokers want even the private companies like Reliance out of the bidding process.. what exactly have they been smoking lately??

The latest round of bidding for oil and gas blocks in India under the National Exploration Licensing Policy 6, with recent roadshows 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 US 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.

"Well I guess you can’t blame somebody for asking for that, but that’s the kind of request I would expect would not be granted," he said.

"I would think the most anyone would expect is that you have a fair field for all the companies whether they are Indian, American, British, Dutch or whatever," he added.

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