CNOOC's $3b UK portfolio sale halted on valuation gap: report

CNOOC's $3b UK portfolio sale halted on valuation gap: report

FILE PHOTO: Men wearing face masks walk past a sign of China National Offshore Oil Corp (CNOOC) outside its headquarters in Beijing, China March 8, 2021. REUTERS/Tingshu Wang

CNOOC Ltd, China’s top offshore oil and gas producer, has halted a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion, Bloomberg News reported on Monday.