Orders of China offshore oil risks review after spill (AP)

SHANGHAI - China Ocean administration ordered oil companies offshore well to assess the risk of accidents after two oil spills off its coast to is in a field operated by ConocoPhillips U.S. energy giant.

The Oceanic Administration issued a notice Friday saying producers of oil in the offshore must thoroughly investigate the risks, to review their emergency planning and also to re-evaluate the environmental impact of their operations.

Offshore operators should learn from the accident and thorough and deeply investigate the risk of spillage of oil and correct, "he says.

Oil spill, which covered 840 square kilometres (324 square miles) in the field of oil Penglai 19-3 in the Bohai Bay, drew criticism from environmentalists and local media on the potential for damage to the environment and the apparent delays is advising the public.

But China ConocoPhillips, which operates seven production platforms in the region of Penglai of Bohai, defended its response, saying: he responded quickly to these two leaks and informed the authorities the day, they were found.

Earlier this week, ConocoPhillips, based in Houston and its Chinese partner in the field, state-owned CNOOC Ltd., said two leaks ceased and cleaning work was almost finished.

The deadline to announce the details of the first flight, which was noted on June 4, was due in part to the difficulty of tracing the infiltration of natural fault, they said, noting that these leaks are rare and that he had not seen front of Bohai.

The Oceanic Administration ordered operators of offshore platform for assessing the risk of injection water in oil fields. The leaks last month took place during these works were underway.

ConocoPhillips said that it had suspended an injection of drilling and water until it completes its investigation and would change its operating practices to prevent the resurgence of a problem.

The State Oceanic Administration said 3,000-metre (3,300 yards) sea booms and other devices have been deployed to help clean up the spill.

The oil field of Penglai 19-3, more large field off the coast of China, has been developed jointly by ConocoPhillips China and CNOOC Ltd. U.S. partner has 49% of the field and its operator, while the Chinese partner has 51 percent.

The spill has raised concerns over the potential impact long term for the fisheries industry active in the region.

It is time to bi-annual review of your business (AP)

By JOYCE M. ROSENBERG, AP Business writer Joyce M. Rosenberg, Ap Business Writer - Friday, June 24, 8 pm et

NEW YORK--It's time to give your business a balance sheet. Mid is an ideal time to look at society and see what works and what is not. And to make a strategic planning and financial for the second half, but next year too.

The first thing to do is to make an appointment with your financial advisor or your accountant - and make sure that your books are in order before your meeting. If you are a provider of human resources, is also a good time for an appointment to review all the questions that you have on employee.

And take step back and look at your overall business. See if you and your employees need to work more productively.

Certain elements of your task list:

WHY YOUR COMPANY NEEDS A FINANCIAL BALANCE

The uneven state of the economy means that many small business owners are not safe to take any wholesale the rest of the year. For example, purchase new equipment or to take new employees. When you meet with your accountant, you can get a better idea of what are your options. They monitor changes in tax law and can have only an idea of what changes may occur in the future.

What you hear probably a financial advisor, is that you should base your business, not only on the next months, decisions but also on and the next year. Some of the questions that you need to take into account:

_Do you expect to make money this year? And the next year, you think that you will make more money then? It is better to take a deduction for large purchases in this tax year, or wait until the next?

_Would spend money has now help your business grow? Or would the economy too uncertain so that you know?

_If you think buy equipment or moving to another location, you would get better if you did now?

Many owners may want to make decisions based on how much money they could save on taxes. But that should be a factor in everything you consider.

EMPLOYEE ISSUES

Summer is the time to major holidays for most companies. And this may raise a number of employment policy issues.

Employers who have never bothered to create a vacation policy may suddenly find that things become a bit chaotic - say, because the two members of staff have tickets and reservations for the same week. Or one or more staff members were issues of care of children or kids softball games ' they want to attend.

The first step you take is finding a way to resolve conflicts and to do the work. Can the other staff members pitch? Can you hire a temporary worker?

Your priority is to create a vacation policy allowing employees to know how many people can be both offshore, and what are the procedures for requesting vacation. It will be first come, first served or seniority?

This member of staff who often asked to leave early, you decide how much time away from the job is OK. And staff must find a way to do their job when they take the time.

It is a good idea to meet with a human resources Advisor, who can help you with questions of the employee. And probably help correct you problems in the future.

HOW IS YOUR BUSINESS RUNNING?

In addition financial and from employee, you must be thinking about other aspects of your business. Your computers work well, or is it maintenance? If you have a manufacturing company, is your equipment in good condition?

That is the way in which your company operates - are your procedures? Your employees are so outdated that they can not get everything done? You are the best of the technology that you can save time and money online?

And take a look around your premises and see whether they need a renovation or even cleaning. Is your help of environment or harming your business? Is it a place pleasant, not only for your employees, but also for your customers as well?

For all these questions now can help you make better well after the second half of 2011.