ConocoPhillips to Set Up Fund for China Oil Spill

Sept. 7, 2011
The equivalent of 3,200 barrels have leaked into the sea as a result of the spill.

To address the consequences of an oil spill in northern China that has angered authorities in Beijing, ConocoPhillips said on Sept. 7 that it was setting up a fund.

The Houston, Texas-based oil firm did not give the size of the fund, which it said would be used to address ConocoPhillips's legal responsibilities under Chinese law and to benefit the environment of Bohai Bay.

"ConocoPhillips deeply regrets these incidents and apologizes for the impact that the incidents have had on the Chinese people and the environment," said CEO James Mulva.

Earlier on Sept. 7, China's cabinet ordered an investigation into the spill at the offshore Penglai 19-3 oilfield.

ConocoPhillips has taken a beating in Chinese state media over the spill and faced public anger and criticism from environmental groups. Fishermen in Shandong, Hebei and Liaoning provinces that border Bohai Bay, east of Beijing, allege that oil from the leak has killed a large part of their harvest of seafood such as sokay wicallops.

ConocoPhillips, the third-largest U.S. oil company, says that the equivalent of 3,200 barrels have leaked into the sea as a result of the spill.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!