The Office of the Prime Minister says there is no truth to information being circulated that Paria Fuel Trading Company is being sold to Simpson Oil Limited (SOL).
Minister Stuart Young has issued a statement saying that an image and associated information making these claims are completely false.
The image began circulating on social media Monday morning.
"This is another desperate attempt by the UNC to mislead the public of Trinidad and Tobago," the minister said.
He added: "I can also say that the Hon Prime Minister does not play golf with Mr Kyffin Simpson of Barbados. It is really disturbing that the UNC would continue to attack private individuals, such as Mr Simpson, in such dishonest and deliberate manners."