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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
05/21/201505:59:29Uganda to Borrow $95 Million for Hydro Power Plant in Oil Region
05/19/201509:49:00CNOOC Limited Announces Yang Hua as Chairman
05/19/201509:49:00CNOOC Limited Announces Yang Hua as Chairman
05/17/201509:13:02China Builds an "Unsinkable Aircraft Carrier" in the South China...
05/10/201518:18:13In U.K., Barriers Rising Against Foreign Deals
04/28/201520:59:00CNOOC Limited Announces Pricing of Guaranteed Notes Offering
04/28/201520:59:00CNOOC Limited Announces Pricing of Guaranteed Notes Offering
04/28/201510:07:002015 Nexen Oil Sands Scholarship
04/27/201505:41:07ASIA MARKETS: Chinese Stocks Rally On State-firm Merger Report
04/24/201504:26:00CNOOC Limited Announces Key Operational Statistics for Q1 2015
04/24/201504:26:00CNOOC Limited Announces Key Operational Statistics for Q1 2015
04/23/201512:44:18Europe's Oil Companies Eyed for Takeover
04/23/201505:02:00Kenli 10-1 Oilfield Commences Production
04/23/201505:02:00Kenli 10-1 Oilfield Commences Production
04/22/201507:21:00CNOOC Limited Filed 2014 Annual Report on Form 20-F
04/22/201507:21:00CNOOC Limited Filed 2014 Annual Report on Form 20-F
04/20/201513:53:08Cnooc Seeks Contractor for Ugandan Oil Project's Final Development...
04/19/201510:04:0310 Largest Companies by Market Cap in Oil
04/17/201511:06:44Trafigura Beheer Acquires CNOOC's Oil-Trading Business in Canada
04/14/201508:22:26BP seeks LNG buyers to finance $12B Tangguh Train 3 project in...

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