Conoco reaches $48M settlement with Chinese fishermen over oil spill

04/1/2012 | Reuters

Chinese fishermen will receive about $48.5 million from ConocoPhillips and CNOOC in compensation for an oil spill in China's Bohai Bay last year, according to a report. Approximately 700 barrels of oil spilled during the incident, Conoco said. The money will also be used to restore the Bohai Bay's maritime environment, the report stated.

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