4. India launches IX round of oil, gas assets auction The New Exploration licensing Policy round IX is being launched in the background of positive economic conditions, including revision of the administered price mechanism (APM) gas price and market determination for price of petrol,'' Petroleum and Natural Gas Minister Murli Deora told reporters at the launch programme here. The 34 blocks, which include 15 re-cycled blocks, cover a sedimentary basin area of 88,807 sq. km. The deadline for making a bid for the blocks is March 18, 2011. The previous eight rounds of NELP in 235 blocks have fetched an investment of around $14 billion.