Porto have insisted they have yet to receive a bid from Chelsea or Paris St Germain for Hulk.
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Brazil international Hulk had been strongly linked with a move to Chelsea, with some reports claiming weeks ago that a deal was all but complete, but it appears a move is no nearer completion.
"I can't say anything about Hulk because there is nothing to say," club president Pinto da Costa told Antena 1. "At this point, there have have not been any offers made to FC Porto, or anyone related to FC Porto, with regard to Hulk.
"That is the truth, despite what the papers say about Chelsea and PSG. Those stories are simply rumours. If you believe what they say, Hulk has already left us."
Hulk, who is under contract until 2014, recently said he would be "happy" to make the move to Stamford Bridge.