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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
12/12/201405:38:06China's Cnooc Says $2 Billion Uganda Oil Field Development on...
12/12/201400:26:52Fall in Oil Prices Threatens Africa's Economic Growth
11/03/201405:50:13Maersk Oil: Golden Eagle Devt in UK North Sea Starts Production
11/03/201405:44:14Cnooc: Development Project in U.K. North Sea Starts Production
10/22/201404:42:13Royal Dutch Shell Announces Gabon Deep-Water Gas Discovery
10/21/201420:53:16British Columbia Proposes Tax Break to Induce Natural Gas Development...
10/14/201418:07:55ADR Shares End Mixed; Oil-Related Shares Decline
10/09/201418:22:12ADR Shares End Lower; Royal Dutch Shell, Total Shares Trade Actively
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/29/201417:44:48ADR Shares End Lower; Petrobras, Itau Unibanco Trade Actively
09/29/201409:20:12Uganda Seeks Data Consultants for Oil Licensing
09/29/201409:03:00Uganda Seeks Data Consultants Ahead of Next Oil Licensing Round
09/16/201401:00:20ASIA MARKETS: Hong Kong Stocks Continue Losing Streak After Weak...
09/15/201409:21:18Correction to China Mining Story on Sept. 11
09/10/201423:00:11China's Global Mining Play Is Failing to Pan Out
08/29/201405:10:08Uganda's Crude Oil Reserves Hit 6.5 Billion Barrels
08/29/201404:48:58Uganda's Crude Oil Reserves Hit 6.5 Billion Barrels-Government
08/28/201418:05:53ADR Shares End Lower; Oi Shares Active
08/18/201409:59:19Uganda Plans 250-Kilometer Oil Pipeline
08/04/201410:20:16Tanzania to Invest $1.2 Billion to Revamp Power Utility

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