More than 70 global energy firms, including ExxonMobil, Chevron Texaco, Conoco Phillip, BHP and Shell, lined up in Houston to have a sneak preview of India's latest offering of oil and gas blocks under the New Exploration Licensing Policy.
Gujarat Chief Minister Narendra Modi claims to have made India's largest-ever gas discovery but his Canadian partner firm GeoGlobal Resources downplayed the find saying it was premature to quantify reserves.
Though Gujarat State Petroleum Corporation officials term it a case of mismanagement, the 'dubious' deal has raised many questions.
An investigation carried out by Tehelka, the Narendra Modi regime gave away a 10 per cent participating stake in an expansive gas field it had won in a bidding process to a company named GeoGlobal Resources that existed only on paper and was controlled by a Guatemala citizen named Jean Paul Roy. The company, incorporated in Barbados, had a capital of just $64.
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