A state-run Indian oil company is denying rumours it’s buying into the oilsands.
Oil and Natural Gas Corp. was rumoured to be partnering with two other Indian companies to buy a stake in six oil sands assets owned by ConocoPhillips.
But the company chairman told Bloomberg it hasn’t made a bid – at least not yet.
It does confirm that it is looking for overseas acquisitions, though.
ConocoPhillips is refusing to comment on the rumours.
September 25, 2012
