NEW YORK/LONDON, (Reuters) – Nexen Petroleum, a unit of China’s CNOOC Ltd, plans to exit the United States, divesting its stake in giant oil and gas developments in the Gulf of Mexico as trade tensions between two countries mount, three people familiar with the plan told Reuters yesterday.Nexen (which is a partner in Guyana’s Stabroek Block with ExxonMobil’s affiliate) has not determined whether it will sell the assets outright or swap offshore acres with another company, the people said, speaking on condition of anonymity as the talks are private . . .

Nexen Petroleum, a unit of China's CNOOC Ltd , plans to exit the United States, divesting its stake in giant oil and gas developments in the Gulf of Mexico as trade tensions between two countries mount, three people familiar with the plan told Reuters on Wednesday.Nexen has not determined whether it will sell the assets outright or swap offshore acres with another company, the people said, speaking on condition of anonymity as the talks are private.One of the people said the decision to pull out of the Gulf was due to rising trade tensions between . . .

Read Full Story