ConocoPhillips sets fund for China oil spill costs
ConocoPhillips said Wednesday it plans a fund to cover costs of oil spills in China's Bohai Bay that have drawn intense criticism from marine authorities and environmentalists.Read more
#1 Sep 7, 2011
The excerpt from the full article is LAWYER TALK
By Dwight Baker
China's maritime authorities contend that Houston, Texas-based ConocoPhillips failed to meet an Aug. 31 deadline for permanently staunching and cleaning up the spills, which began in June. The company says it met the deadline.
"ConocoPhillips deeply regrets these incidents and apologizes for the impact that the incidents have had on the Chinese people and the environment," James J. Mulva, the company's chairman and CEO said in a statement.
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