The government's decision not to extend the tax holiday on exploration of oil blocks being offered in the ninth round of bidding under the New Exploration and Licensing Policy (Nelp) may impact the current bidding process, of Nelp-IX.
The government will next week launch the 9th round of auction under the New Exploration Licensing Policy for the oil and gas sector.
Cairn India, whose success in Rajasthan may have propelled Reliance to bid for two blocks in the state, has submitted offers for only two blocks -- one onland and one offshore.
The company is withdrawing from the blocks due to delays in clearances.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
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