Oil producer ONGC on Friday said the fall in international oil prices would not change the company's bid for acquisition of UK-listed Imperial Energy.
ONGC chairman and managing director R S Sharma said, "We do not see any change in our bid for Imperial."
The company, he said, had enough financial resources to fund 2-3 such acquisitions. "We have not slowed down on overseas acquisition and in fact we see it is suitable time to up the ante," he said.
Sharma said the global financial crisis will not impact the company's investment plans, adding that we have adequate liquidity.
ONGC's gross realisation on crude sales for second quarter was about $115 per barrel.