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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
09/16/201401:00:20ASIA MARKETS: Hong Kong Stocks Continue Losing Streak After Weak...
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05/08/201409:35:06Uganda to Get $140 Million Infrastructure Loan For Oil Region
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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

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