CNOOC to establish marine environmental fund

(Xinhua)

2011-12-30 09:28

BEIJING - 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) 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.

Paper kettle

An Italian designer, Andrea Ponti, designed a recycled paper-made water container for the Milano Expo 2015, according to yankodesign.com.

Bamboo treecycle

The Bamboo treecycle developed by MGT Engineering Ltd is on dispay at the 21th China Int'l Bicycle and Motor Fair.

Charger captures power from Wifi

A US electronics company invented a charger that draws its power from Wifi signals.

World Environment Day

World Environment Day is an annual event that is aimed at being the biggest and most widely celebrated global day for positive environmental action. The theme this year is Forests: Nature At Your Service.

China International Green Industry Expo 2010

The China International Green Industry Expo 2010 (CIGIE 2010) is an important international green industry exhibition hosted by the Chinese government and held at the Beijing Exhibition Center, Nov 24 to 27.

China Wind Power 2010 Conference&Exhibition

China Wind Power 2010 is the largest and most important international wind power conference and exhibition in China.