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Cnooc, ConocoPhillips Paid $266 Million Compensation After Penglai 19-3 Oil Spill

BEIJING -(Dow Jones)- Cnooc Ltd. (CEO), China's largest offshore oil producer, and joint-venture partner ConocoPhillips (COP) paid a total of CNY1.683 billion (US$266 million) to compensate for losses related to last year's oil spill at the Penglai 19-3 field in Bohai Bay, Cnooc said Friday. The Chinese unit of ConocoPhillips contributed the bulk of the funds, which amounted to CNY1.09 billion, to compensate for the damage to marine ecology. Cnooc and ConocoPhillips also contributed CNY480 million and CNY113 million, respectively, as part of social and environmental responsibilities to Bohai Bay. -By Wayne Ma, Dow Jones Newswires; +86 10 8400 7714; wayne.ma@dowjones.com

Stock News for Cnooc (CEO)
DateTimeHeadline
03/27/201507:56:29Cnooc surprises with 6.5% profit gain despite oil price plunge
03/27/201504:31:00CNOOC Limited: Exploration and Development Laid Solid Foundation...
03/27/201504:31:00CNOOC Limited: Exploration and Development Laid Solid Foundation...
03/26/201508:49:09PetroChina to cut 2015 spending by 8.8% as oil prices hit profits
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03/17/201517:24:32ADR Shares End Mixed; BHP Billiton Shares Rise
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03/11/201520:43:10Acadia Pharmaceuticals Delays Seeking Approval of Parkinson's...
03/11/201518:45:15Acadia Pharmaceuticals Delays Seeking Approval of Parkinson's...
03/09/201505:36:00Qinhuangdao 32-6 Comprehensive Adjustment Project Commences Production
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03/06/201508:03:21Tullow Oil, partners may invest $14B in Uganda oil fields
03/05/201501:16:46Is A Dividend Cut The End Of The World? Total Return And Final...
02/24/201511:51:32Uganda to Offer Six Blocks in New Oil Licensing Round -- Update
02/23/201512:32:30Commodities Today: An Energy Stock Winner And China Looks At...
02/17/201518:36:20ADR Shares End Higher; Chinese Oil Majors' Shares Rise
02/10/201504:02:00CNOOC Signs PSCs With SK
02/10/201504:02:00CNOOC Signs PSCs With SK

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