SINGAPORE (Dow Jones)–China National Offshore Oil Corp. (CEO), also known as CNOOC, said Tuesday that it is willing to establish a marine environmental fund with ConocoPhillips (COP), to address the impact of several oil spills at Bohai Bay.
The move comes after China’s State Oceanic Administration ordered a halt to all operations last week at the Penglai 19-3 oil field, which is jointly owned by both companies.
ConocoPhillips, which operates the oil field, said last month it hadn’t been notified of any claims resulting from the spills, but would consider them as they came.
The U.S.-based oil company estimates that more than 3,200 barrels of oil and oil-based drilling fluids have been spilled at the site since early June.
-By Wayne Ma, Dow Jones Newswires
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
Trump outlines a tougher stance on Russia, conditioning peace talks on halting attacks and threatening sanctions on countries buying Russian oil. By Anastasiia Malenko, Steve Holland and Dan Peleschuk KYIV/WASHINGTON,...
(Bloomberg) — GE Vernova Inc. will pay $10.5 million to the town of Nantucket, Massachusetts, after one of its offshore wind turbine blades broke into pieces and washed ashore last...
Saronic Technologies and Vigor Marine Group announced today a strategic partnership aimed at accelerating the delivery of autonomous maritime capabilities while strengthening operational support for defense and commercial customers. The...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
