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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
07/16/201401:00:49China Moves Oil Rig From Contested Waters
06/17/201419:14:07Canadian Government Approves Enbridge's Northern Gateway Pipeline...
05/28/201408:28:15Uganda Says 11 Oil Field Appraisals Are Complete
05/22/201411:30:11Cnooc, Gazprom Eye Tanzania Oil and Gas Blocks
05/22/201411:06:16China's Cnooc, Russia's Gazprom Eye Tanzania Oil and Gas Blocks
05/08/201409:35:06Uganda to Get $140 Million Infrastructure Loan For Oil Region
05/05/201407:00:12Cnooc Rig Fuels Vietnam-China Tensions
04/30/201408:00:03China's Cnooc Sees First Ugandan Crude Oil Output in 2018
04/24/201417:35:36ADR Shares End Mixed; Unilever, AstraZeneca Shares Active
04/23/201422:30:29Cnooc Sells Multibillion-Dollar Bonds
04/23/201419:04:11Cnooc Sells Multibillion-Dollar Bonds -- 2nd Update
04/23/201417:37:59ADR Shares End Lower; Ericsson, ARM Holdings Shares Active
04/22/201406:00:15Cnooc Revenue Up 6.9% on Year
03/28/201416:51:17ADR Shares End Higher; Aviva Shares Active
02/27/201418:18:37Western Potash Threatened with Legal Action
02/21/201401:59:43Noble Plans China Oil-Field Stake Sale -- Update
02/18/201405:15:06Anadarko Sells China Assets to Brightoil for $1.075 Billion--Update
02/11/201418:10:28Hong Kong Firms to Settle U.S. Insider Trading Case
02/11/201417:45:11Hong Kong-Based Firms Agree To Settle Insider Trading Case
01/24/201411:20:12Brazil's Petrobras, Partners to Invest Up To $500 Million at...

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