December 10, 2012 / 8:45 PM / in 5 years

U.S. decision now key for Nexen deal approval: source

CALGARY, Alberta (Reuters) - The Committee on Foreign Investment in the United States must approve the Nexen deal before CNOOC Ltd (0883.HK), the Chinese state oil company, can close its $15.1 billion takeover of Canada’s Nexen Inc NXY.TO, the last major hurdle to the deal, a source familiar with the matter said on Monday.

“That’s the principal one,” the source said. He would not speculate how long the committee, chaired by U.S. Treasury Secretary Timothy Geithner, might take to rule after the companies resubmitted their application in late November.

The source did not want to be named because he was not authorized to discuss the matter.

The Canadian government gave its green light to the deal on Friday.

Reporting by Jeffrey Jones; Editing by Phil Berlowitz

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