ConocoPhillips (COP) and its partner Cnooc (CEO) agree to pay 1.683B yuan ($266.9M) in...

|About: ConocoPhillips (COP)|By:, SA News Editor

ConocoPhillips (COP) and its partner Cnooc (CEO) agree to pay 1.683B yuan ($266.9M) in compensation for a series of oil spills off the coast of northern China last year, China's State Oceanic Administration reports. The U.S. firm Chinese subsidiary would alone be liable to pay 1.09B yuan to compensate for damage done to the region's marine ecology.