Devaluation by Default

December 16, 1072 The off-shore exploration programme should have been given very high priority, but the long squabble over policy issues has resulted in a delay of nearly six years in launching drilling in the Bombay High after the structure was discovered. Drilling is now expected to begin early next year. In the meanwhile, the Oil and Natural Gas Commission continues to be dogged by bureaucratic indifference and lack of leadership, Devaluation finance and equipment.