ConocoPhillips, CNOOC to pay $267 million for China spill

U.S. oil firm ConocoPhillips and its partner CNOOC(NYSE:CEO) have agreed to pay 1.683 billion yuan ($266.89 million) in compensation for a series of oil spills off the coast of northern China last year. More on Yahoo/Reuters You can also read our previous post. China National Offshore Oil Corp. is a Global Compact participant since 2008/06/25. It was a Gold Contributor to the Foundation for the Global Compact in 2011.