U.S.-based energy company ConocoPhillips announced a compensation deal in China to resolve issues related to the June 2011 incidents at the Peng Lai 19-3 field in Bohai Bay. ConocoPhillips and the China National Offshore Oil Corporation reportedly reached an agreement with China's Ministry of Agriculture under which CNY1 billion will be paid as compensation to [...]

Global petroleum company Total says that its talks with China National Offshore Oil Corp, one of the largest offshore oil companies in China, on liquid natural gas has entered its final stages and it expected that a final deal will be signed soon.