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The Directorate General of Hydrocarbons (DGH) yesterday announced the results of the maiden open acreage auction, with Vedanta Group winning big. The auction received 110 bids for the 55 blocks on offer, and Vedanta received licenses for 41 of them. Vedanta played aggressive in the auction, placing bids on the entire blocks on auction. ONGCs conservative bids landed it only 2 blocks, while OIL won licences to 9 blocks.
