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CNOOC May Not Win Unocal Bid

CNOOC has pledged that it would uphold environmental and worker protection commitments if it wins the bid for US oil company Unocal Corp

A spokesman for China National Oil Offshore Corporation has pledged that it would uphold environmental and worker protection commitments if it wins the bid for US oil company Unocal Corp.

The Chinese company sent a letter to Unocal President Joseph Bryant for details on whether Unocal would uphold promises to clean up several polluted sites in the four states. They also asked for assurances that retired Unocal employees would not lose their pensions or health care plans.

CNOOC spokesman Mark Palmer said, "CNOOC would be honored to abide by all of the laws of the United States and the states in which it would have operations were its offer for Unocal to be accepted, and that includes, certainly, environmental and worker protection laws," Palmer said.

However, Tom Dresslar, a spokesman for California Attorney General, said CNOOC's statement was no guarantee it would meet Unocal's commitments.