LONDON -- TotalFinaElf has no plans now for acquisitions Chief Executive Officer Thierry Desmarest (pictured) told a news conference yesterday, ending any remaining speculation the French major might make a bid for Conoco Inc.
"We don't have any U.S. acquisitions being considered at this stage," Desmarest said. "Today generally other players are prepared to pay a higher price so we don't have any acquisition project."
There had been speculation that Total might bid for Conoco, which is still set to merge with Phillips Petroleum, despite rumors the deal could be broken by a larger bidder.
