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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
04/28/201604:22:00CNOOC Limited Announces Key Operational Statistics for Q1 2016
04/28/201604:22:00CNOOC Limited Announces Key Operational Statistics for Q1 2016
04/27/201622:00:00Suncor Buys Out Murphy Oil Stake in Canada's Syncrude Oil Sands...
04/25/201604:40:00Panyu 11-5 Oilfield Commences Production
04/25/201604:40:00Panyu 11-5 Oilfield Commences Production
04/21/201607:41:00CNOOC Limited Filed 2015 Annual Report on Form 20-F
04/21/201607:41:00CNOOC Limited Filed 2015 Annual Report on Form 20-F
03/24/201604:27:00CNOOC Limited: Steady Progress in All Businesses Production...
03/24/201604:27:00CNOOC Limited: Steady Progress in All Businesses Production...
02/12/201618:00:00Moody's Cuts Canadian Oil Sands' Rating to Junk Status
02/12/201603:41:00Europa Oil & Gas Secures New License Option in Porcupine Basin...
02/01/201604:01:00Two New Projects Commence Production
02/01/201604:01:00Two New Projects Commence Production
01/27/201603:30:00Kenli 10-4 Oilfield Commences Production
01/27/201603:30:00Kenli 10-4 Oilfield Commences Production
01/19/201618:05:00ADRs End Mostly Higher; Unilever Rises
01/19/201603:25:00CNOOC Limited Announces Its 2016 Business Strategy and Development...
01/19/201603:25:00CNOOC Limited Announces Its 2016 Business Strategy and Development...
12/07/201518:02:00ADRs End Lower; Oil Majors Decline
12/03/201504:00:00CNOOC Signs PSC with Husky

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