Shares in one of China's biggest state-controlled energy firms, CNOOC, have slumped after the company was linked to a US blacklist of Chinese firms with military ties.

Shares in Hong Kong-listed CNOOC fell by 13pc to HK$8.20/share ($1.06/share) as of 3pm local time (07:00 GMT), far worse than a 1.5pc fall in the Hang Seng stock index and a 2pc drop in oil prices.

Share prices in the company's listed arm dropped after unconfirmed reports said its state-owned parent company CNOOC will be added to a US blacklist of energy, infrastructure and technology companies with alleged ties to the Chinese military. US President Donald Trump signed an executive order earlier this month barring US investment in the 31 companies on the list, which include state-controlled refiners Sinochem, ChemChina and Norinco.

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KeyFacts Energy: CNOOC China country profile