Financial Times FT.com

Repsol denies bowing to external pressure

By Mark Mulligan in Madrid

Published: November 25 2008 03:27 | Last updated: November 25 2008 03:27

Repsol was forced to assert its independence on Monday amid reports that the Spanish oil and gas group had backed out of a deal with Lukoil two years ago under pressure from the government.

The company, which is again being courted by Lukoil, said it had held talks with the Russian energy group about a possible cross-shareholding at the end of 2006.

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