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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
09/21/201604:46:00Enping 18-1 Oilfield Commences Production
09/21/201604:46:00Enping 18-1 Oilfield Commences Production
09/12/201604:40:00Weizhou 6-9/6-10 Comprehensive Adjustment Project Commences Production
09/12/201604:40:00Weizhou 6-9/6-10 Comprehensive Adjustment Project Commences Production
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08/24/201604:39:00Cost Control Measures Achieve Remarkable Results Steady Progress...
08/24/201604:39:00Cost Control Measures Achieve Remarkable Results Steady Progress...
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07/12/201617:54:00ADRs End Higher; Shire Rises
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07/01/201609:37:00Russia's RT Global Resources Pulls Out of $4 Billion Ugandan...
06/30/201610:01:00Exxon Says 2nd Well Confirms Major Offshore Guyana Discovery
06/20/201611:40:00Tanzania, Uganda $4 Billion Oil-Pipeline Timetable Slips
06/15/201604:33:00CNOOC Limited Announces Changes in Directors and Senior Management
06/15/201604:33:00CNOOC Limited Announces Changes in Directors and Senior Management
05/17/201600:40:00High Oil Prices Help Sentiment in Asia-Pacific Markets

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