Total denies in talks to buy Engie exploration and production unit

PARIS: French oil major Total denied on Thursday that it was in talks about buying domestic rival Engie's exploration and production (E&P) activities. Sources familiar with the situation told Reuters that Total had held talks to buy all or part of Engie's E&P business, worth about 5 billion euros ($5.58 billion).

"Total categorically denies any negotiations about buying Engie's exploration-production activities," Total said in an emailed statement.

Two of the sources told Reuters that Total had already made two informal offers which Engie rejected as too low, adding that it was not clear whether the two parties might reach an agreement.