Nexen Announces Strategic Review of Marketing Business

Nexen is reviewing strategic alternatives for its natural gas and power marketing businesses, which may include the sale of all or part of these businesses. We have selected an advisor to assist with this initiative to continue the alignment of our ongoing marketing activities with our upstream oil and gas business. We remain committed to our customers and will ensure that we continue to deliver exceptional service through this period.

"One of the key strategies of our marketing group is to obtain competitive pricing for our global oil and gas production," said Marvin Romanow, Nexen's President and Chief Executive Officer. "We have no plans to give up this capacity with this strategic review particularly as it relates to our crude oil and shale gas businesses."

Published 23/07/09

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