Oil company moving headquarters to Houston

A major oil company is relocating its headquarters to Houston.According to a recent report from the Houston Business Journal, a major oil company is moving its headquarters to Houston, which may provide more jobs for local residents.Nexen Petroleum USA. plans to move its headquarters from Plano to Houston soon. The company already has an office in Houston, however, it plans to erect a new building.While Nexen initially plans to consolidate its employees in the two offices at the new location, having its headquarters in Houston may prove fruitful for locals in terms of employment opportunities.The company's new building will be approximately 250,000 square feet, according to a real estate source that has been involved with the deal. The 14-story office building will be similar to the property Cemex Inc. used for its U.S. headquarters beginning in 2009. Both buildings will have used the MetroNational Corporation for development.A research firm estimates the company has between 250 and 499 employees, which may rise in the future, depending on the business' performance.The move is the latest for the Houston real estate market, which has recorded steady gains, as its job sector has improved lately.Courtesy of 2M Realty News

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