ConocoPhillips is planning on making new funds to address the environmental problems in China’s Bohai Bay after the harsh criticisms they received from China’s marine authorities and environmentalists regarding the oil spills in the heavily polluted area. ConocoPhillips’ Houston- based company’s announcement on the funding did not include further details such as the size and the further details. Recently, the company announced that they will make separate funds to pay compensation for the damages caused by the oil spills, which started last June in Penglai 19-3, China’s largest oil field.
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