PetroChina to set up special marine ecological fund to pay for Dalian oil spill accident

Author: NBD, Published on: 7 July 2015

Note: For our coverage on the lawsuit against ConocoPhillips and China National Offshore Oil Corporation please see here.

"中石油埋单大连溢油事故幕后:2亿元远远不够", 7 July 2015



2010年7月16日,中石油下属的大连中石油国际储运有限公司原油(53.01, 0.48, 0.91%)库输油管道发生爆炸,引发大火并造成大量原油泄漏。根据官方通报,溢油量为1500余吨,造成430平方公里海面污染,其中12平方公里为重度污染海域。


Google Translate

"After the oil spill in Dalian, the oil spill accident: 200 million yuan is not enough"

After a lapse of five years, the “July·16” Dalian oil spill accident that was gradually forgotten was a new turn.

On June 25, 2015, Dalian Environmental Protection Volunteers Association (hereinafter referred to as Dalian Environmental Protection Association) announced that PetroChina plans to allocate 200 million yuan to set up a special marine ecological fund to pay for the “July·16” Dalian oil spill accident. 

July 16, 2010, a subsidiary of PetroChina Dalian International Logistics Co., crude oil (53.01, 0.48, 0.91%) libraries pipeline explosion caused the fire and caused a large number of oil spills. According to the official notification, oil spills of more than 1,500 tons, resulting in 430 square kilometers of sea pollution, of which 12 square kilometers heavily polluted waters...

Once this special fund is implemented, it will be the second marine ecological special fund established by domestic enterprises after the marine pollution accident. After the 2011 Bohai Penglai oil spill accident, CNOOC invested 500 million yuan in 2012 and established the CNOOC Marine Ecological Fund. The operation mode and use of the fund have been questioned. "If you can pass the Dalian case, supervise and explore a set of well-organized fund management mechanism, it will have far-reaching demonstration significance than the amount of money the perpetrators have to offer." Wang Yamin, an associate professor at the School of Oceanography of Shandong University, told the Caijing reporter.

 *Sourced by RepRisk due diligence on ESG and business conduct risks,

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Related companies: CNOOC (China National Offshore Oil Corporation) ConocoPhillips PetroChina (part of China National Petroleum Corporation)