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China's CNOOC pledges Katrina aid
China's CNOOC, forced to drop a bid for U.S. oil producer Unocal Corp. amid opposition from U.S. Congress, will match donations from its employees for victims of Hurricane Katrina in the United States, a spokesman said on Monday, the Reuters reported. CNOOC's 30,000 staff had raised 800,000 yuan ($98,600) for hurricane victims by Friday, Liu Junshan said by telephone. Thousands of people were feared dead after Katrina smashed into the U.S. Gulf Coast. Corpses rotting in the sun and uncontrolled looting presented images once thought unimaginable in the world's richest and most powerful country.
CNOOC, China's top offshore oil and gas producer, provided humanitarian assistance to shoulder its international responsibility, People's Daily Web site quoted an unidentified executive as saying. Last week the Chinese government pledged to donate $5 million to Katrina victims. CNOOC's listed unit dropped an unsolicited $18.5 billion bid for Unocal last month amid opposition from the U.S. Congress which feared a Chinese buy-out would compromise national security.
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