State-run Indian Oil Corp (IOC) is in talks to acquire exploration firms in Europe and Canada, stepping up energy-deficient India's campaign to secure more oil to run Asia's third-largest economy.
IOC has held preliminary talks to buy Canada's Niko Resources and French energy firm Maurel and Prom, a spokesman for India's top refiner said on Friday.
"We are talking, but we are nowhere close to making an offer," N. Srikumar said.
Maurel and Prom was unavailable for coment. But industry executives and bankers said it was seen as receptive to a take-over approach and had held talks with a number of parties in the past year and a half.
IOC was also in initial acquisition talks with other foreign energy firms, the spokesman said, but he did not elaborate.
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