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ConocoPhillips Message Board

  • save_n_investte save_n_investte Sep 24, 2012 11:13 AM Flag

    Indian Firms Bid for COP's Canadian Assets.

    UPDATE 1-Indian firms bid for Conoco Canada oil assets -sources
    NEW DELHI, Sept 24 (Reuters) - Three Indian oil firms have bid $5 billion for Canadian oil sands assets of U.S.-based ConocoPhillips, company sources said on Monday, as the energy-hungry country's output from local and foreign fields falls.

    India is the world's fourth-biggest oil importer, buying nearly 80 percent of its oil needs from abroad. With fuel demand and refining capacity rising, the government has told state firms to secure energy assets overseas to help power the expanding economy.

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