Latest News:  
Beijing   Cloudy/Sunny    4 / -7   City Forecast

People's Daily Online>>China Business

CNOOC applies for establishment of marine environmental fund


10:32, December 30, 2011

BEIJING, Dec. 29 (Xinhua) -- China National Offshore Oil Corp. (CNOOC) said Thursday it has filed an application to the Ministry of Civil Affairs for registration of a marine environmental fund following a string of oil spills at Bohai Bay.

CNOOC Ltd., a subsidiary of CNOOC, will donate 500 million yuan (79.37 million U.S. dollars) to the fund as its initial capital. Later funding will come from companies affiliated with CNOOC, the oil producer said, adding that its partners are also welcome to donate money to the fund.

The private fund will focus on projects of marine environmental protection, scientific research and technology development, including the establishment of marine wildlife reserves and marine ecosystem restoration, CNOOC said.

The oil producer didn't say whether the fund is the one the company and its partner ConocoPhillips China promised to found following severe oil leaks in the country's northeast Bohai Bay this summer.

The two companies said in September they will establish a compensation fund to pay for the damage caused by the huge oil spill, which has polluted over 6,200 square km of water in Bohai bay since June, an area about nine times the size of Singapore.


Leave your comment0 comments

  1. Name


Selections for you

  1. Workers set up Chinese red lanterns around Temple of Heaven

  2. Wall Street ends flat for year despite a big volatile year

  3. In Pictures: Iranian naval maneuvers enter 7th day

  4. As Spring Festival coming, more than 100 migrant workers still stay in Zhengzhou

Most Popular


  1. Japan's case of flawed priority
  2. Move to send 'alarming signal' across Asia
  3. EU's airline carbon tax may backfire
  4. Asian countries refuse to 'take side'
  5. US uses 'hedging strategy' to deal with China's rise
  6. What is behind US 'Return-to-Asia' strategy?
  7. China's GDP growth may slow to 8 pct in 2012
  8. China's economy not to suffer a hard landing
  9. Common interests prevent 'Cold War'
  10. War-related carbon emissions deserves attention

What's happening in China

As Spring Festival coming, more than 100 migrant workers still stay in Zhengzhou

  1. Beijing tourism realizes great lead forward
  2. Panda shows carnivorous side
  3. Local governments quiet on housing restrictions
  4. Shenzhen finds cancer-causing mildew in food
  5. China busts counterfeit drug racket

PD Online Data

  1. Traditional Mooncakes
  2. About Mooncakes
  3. History of Mooncakes
  4. Modern Mooncakes
  5. Legends of Mid-Autumn Festival