CNOOC's $3 bln UK portfolio sale halted on valuation gap -Bloomberg

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Jan 30 (Reuters) - CNOOCLtd 0883.HK, 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.

Although initial offers failed to meet CNOOC'sexpectations for the business, it could still resume a sale once conditions improve, the report said, citing people familiar with the matter.

CNOOCdid not immediately respond to Reuters request for comment.

Reuters has reported that CNOOCwas preparing to exit its operations in Britain, Canada and the United States because of concerns in Beijing the assets could become subject to Western sanctions.

Reporting by Siddharth Jindal in Bengaluru; Editing by Savio D'Souza


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