China’s State Oceanic Administration allowed US oil firm ConocoPhillips (COP.NYSE) to continue production at a Chinese oil field following suspended operations after 2011 oil leaks, The Wall Street Journal reported. The regulator said on Saturday that the offshore Penglai 19-3 oil field in northern China’s Bohai Bay could commence production after revisions were made to operations, without disclosing specifics. The announcement came after China’s National Energy Administration accepted an updated plan for the area. China’s Cnooc (CEO.NYSE, 0883.HKG, NC2A.FRA) owns 51% of the field while ConocoPhillips holds the remainder. The field was shut by the regulator in September 2011 following the leak of 3,345 barrels of oil into the ocean.
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