By Jessica Resnick-Ault and Ron Bousso
NEW YORK/LONDON, Sept 26 (Reuters) - Nexen Petroleum, a unitof China's CNOOC Ltd, plans to exit the United States,divesting its stake in giant oil and gas developments in theGulf 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 assetsoutright or swap offshore acres with another company, the peoplesaid, speaking on condition of anonymity as the talks areprivate.
One of the people said the decision to pull out of the Gulfwas due to rising trade tensions between Washington and Beijing;the other two did not know the reason for the planned sale.
A spokeswoman for Nexen, based in Calgary, did notimmediately respond to calls and an email seeking comment.
The world's two largest economies have locked horns overtrade for months, beginning with a series of levies earlier inthe year, and little progress has been made in resolving thedispute.
Additional U.S. tariffs on $200 billion worth of importedChinese goods kicked in on Monday, and Beijing retaliated withtariffs on $60 billion of U.S. products, including liquefiednatural gas (LNG).
Crude oil has not been included in the list of goods subjectto tariffs.
CNOOC bought Nexen in 2013 for $15.1 billion, as Chinamounted a campaign to acquire global natural resources. The dealgave CNOOC access to acreage in the Gulf of Mexico, the UK NorthSea and off the coast of Western Africa.
Nexen holds a 25 percent interest in Hess Corp'sStampede development, about 115 miles (185 kilometers) off thecoast of Louisiana. The platform at Stampede began producing oilin January and has the ability to process 80,000 barrels of oiland 50 million cubic feet of natural gas a day.
Nexen also has a 21 percent interest in Royal Dutch Shell'sAppomattox development, located 80 miles (128 km) offthe coast of Louisiana. The Appomattox platform is forecast tohave peak production of 175,000 barrels of oil equivalent perday and probable reserves of 700 million barrels of oilequivalent.
Typically, co-owners of acreage would have the first crackat taking on assets a partner is planning on selling.
Nexen has not leased any new acreage in the Gulf of Mexicosince it was bought by CNOOC, according to data from the Bureauof Ocean Energy Management (BOEM). Nexen sold small acreageplots to Cox Oil this year and Total SA last year,according to BOEM data.
Nexen has not acquired any stakes in Gulf of Mexico blocksthis year from other producers, according to BOEM data.
Nexen is one of the largest oil producers in the UK NorthSea, according to the company's website, and its holdingsinclude assets in Canada, Nigeria and Trinidad and Tobago.(Reporting by Jessica Resnick-Ault and Ron Bousso; additionalreporting by Ayenat Mersie-EjiguEditing by Leslie Adler)
