Nexen: Buzzard Seen Resuming Production By 1100 GMT Wednesday

    LONDON--The operator of the U.K.'s Buzzard oil field said Tuesday that production from the field would resume by 1100 GMT Wednesday after it shut Monday night after a steam release.

    Nexen Inc., a unit of China's Cnooc (CEO), said: "The cause of the steam release has been identified and we're working on a resolution."

    A London-based trader said the outage had caused the front-month price of Brent to steepen relative to later months.

    Nexen is the second largest oil producer in the U.K. North Sea, according to the company's website. In 2012, Buzzard generated 160,000 barrels a day of oil equivalent.

    Write to Jenny Gross at; Twitter: @jgginlondon