Moscow-based oil company Gazprom Neft has dismissed reports of merger talks with fellow Russian firm Sibir Energy.

Speculation about a merger was prompted because London-listed Sibir Energy reported recently that it would acquire the energy assets of the city of Moscow for $922 million in cash.

Reuters quotes Natalya Vyalkina, a company spokesperson, as saying: We are not holding such talks and we are not planning to halt legal actions concerning the Moscow refinery despite the merger of Sibir and the energy assets of the Moscow city government.