ConocoPhillips, China National to pay $360 Million for oil spill
30th April 2012
China National Offshore Oil Corp and ConocoPhillips (COP) will pay 2.28 billion yuan ($360 million) for environmental damage caused by an offshore oil spill in China last year.
ConocoPhillips operated the well in the Penglai oilfield that was responsible for the leak and will pay 1.09 billion yuan of the total, Beijing-based Cnooc Ltd. said in a statement. The well leaked 3,000 barrels of oil and drilling mud into Bohai Bay.