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CNOOC’s $3 bln UK portfolio sale halted on valuation gap -Bloomberg
Jan 30 (Reuters) – CNOOC Ltd (0883.HK), China’s high offshore oil and gasoline producer, has halted a deliberate sale of its UK North Sea portfolio, which may have been valued at as a lot as $3 billion, Bloomberg Information reported on Monday.
Though preliminary presents failed to satisfy CNOOC’s expectations for the enterprise, it may nonetheless resume a sale as soon as circumstances enhance, the report stated, citing individuals aware of the matter.
CNOOC didn’t instantly reply to Reuters request for remark.
Reuters has reported that CNOOC was making ready to exit its operations in Britain, Canada and the US due to issues in Beijing the belongings may develop into topic to Western sanctions.
Reporting by Siddharth Jindal in Bengaluru; Enhancing by Savio D’Souza
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