Energy stocks are trading strong led by Essar Oil and Cairn India. According to a leading financial daily, a consortium of government oil companies led by ONGC Videsh Limited (OVL), the foreign arm of Oil and Natural Gas Corporation (ONGC) is among the three groups shortlisted by US energy giant ConocoPhillips for a proposed stake sale in six Canadian oil sands assets. OVL, along with IndianOil Corp Limited and Oil India Limited, had recently placed a USD $5 bn bid for buying the stake in the Alberta oil sands assets. ConocoPhillips is selling up to 50% of its oil-sand reserves in Alberta. ONGC had signed a memorandum of understanding with ConocoPhillips early this year for cooperation in exploration and development of shale resources in India, North America and elsewhere, besides deep water opportunities off the eastern coast of India.