NEW YORK Dec 5 General Electric Co has
no plans to buy an oil or natural gas producer, Chief Executive
Jeff Immelt told Reuters on Thursday.
Ever since the conglomerate bought oil pump maker Lufkin
earlier this year for nearly $5 billion, speculation has swirled
on Wall Street that Immelt was itching to buy an energy producer
amid the fast-paced growth of the North American shale boom.
"No, no plans to at all," Immelt said in an interview on
Thursday after a forum hosted by Esquire magazine in New York.
During the forum, Immelt said that with a hypothetical $10
billion, he would pursue several growth projects, including
"buying an oil and gas company."
When asked to clarify, Immelt said he would prefer buying
energy-related companies that expand GE's portfolio of pumps,
jacks and other products, and melding them with new technology
to allow energy companies to extract more oil and natural gas.