The government aims to make idle oil and gas fields auctions progressive and transparent. Speaking on the sidelines of a function, petroleum and natural gas minister Dharmendra Pradhan said his ministry aims to make auctions market friendly. <br/><br/>Mr Pradhan said government expects to finalise the new policy for auction of oil and gas blocks during the ongoing financial year. He said his ministry has brought a consultation paper and suggestions will come in by November 30.<br/><br/>Yesterday, Oil Ministry had issued a paper on new fiscal and contractual regime for award of hydrocarbon acreages with a view to revive investor interest in oil and gas exploration by simplifying rules.<br/><br/>On the Indian basket crude oil price cracking below 40 US dollar barrel mark to touch 39.89 US dollar, the minister said, this kind of price is certainly favourable for the Indian market.