Indian consortium short listed for ConocoPhillips assets in Canada
BY SAURABH CHATURVEDI
NEW DELHI -- A joint bid by a consortium of three Indian state run oil and gas companies has been short listed to acquire stakes in oil-sands assets owned by ConocoPhillips in Canada, a senior executive at one of the companies said. The consortium comprising ONGC, Oil India and Indian Oil bid recently for the stakes, which are valued around $5 billion.
The India consortium has been short listed as one of the three finalists for stakes in ConocoPhillips Canada' s oil sands assets, the executive, who declined to be named, told reporters. He said ConocoPhillips has offered to sell a 50% stake in six oil sands assets in Alberta, Canada.Executives at Indian Oil and ONGC weren' t immediately available for comment.
Davy Kong, a spokeswoman for ConocoPhillips, also couldn' t be reached for comment.
Dow Jones Newswires