Vedanta requests for more time, delays signing OALP contract

The signing of the first-ever contracts under the Open Acreage Licensing (OALP-I) has been unusually delayed. The contract-signing ceremony was scheduled for September 6. Barely 48 hours before the contracts could be signed with Vedanta, Oil and Natural Gas Corporation (ONGC), Oil India (OIL), GAIL (India), Hindustan Oil Exploration Company (HOEC), and Bharat PetroResources, the hydrocarbon regulator cancelled the event, creating confusion among many industry players.  According to multiple sources close to the development, the Anil Agarwal-led Vedanta has asked for more time .....

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