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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
04/23/201422:30:29Cnooc 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...
01/24/201407:00:09Uganda Agrees Deal to Develop Oil Sector
01/06/201406:15:01Uganda Says Evaluating Applications for Ten Oil Fields
01/06/201404:05:25Amec Gets 6-Year Nexen Petroleum UK EPC Contract
12/27/201306:38:13UMC Energy: PPL374, PPL375 2D Seismic Survey Running to Schedule
12/19/201317:50:37Enbridge's Northern Gateway Pipeline Gets Backing
12/19/201305:40:03UMC Energy Corporation: 2D Acquisition Project on Track
12/11/201308:59:26North Sea Oil Output Seen 4% Lower in January Than December
12/10/201305:32:18UMC Energy: Extensive 2D Program Begins on Offshore Petroleum...
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-

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