Corruption scandal turns sights on Chinese oil companies
Investigation appears to be part of efforts by new leadership to tighten control over state-owned energy firms
Monday 09 September 2013
Five more executives of Chinese oil companies are being questioned in a spreading anti-graft probe of the industry, a newspaper reported today. One of the companies rejected the report as inaccurate.
The investigation appears to be part of efforts by China's new leadership under President Xi Jinping to tighten control over state-owned energy companies. The government has said executives are suspected of unspecified "discipline violations," a term often used to refer to corruption.
In the latest move, the executives of China's biggest oil producer, state-owned China National Petroleum Corp.; its main subsidiary, PetroChina Ltd.; and other companies were taken in by investigators last week, China Business News said. Citing an unidentified industry source, the report said it was not clear whether they were suspects.
"Such reports are not true," said a PetroChina statement released through the Hong Kong stock exchange.
Two executives cited in the report — a vice president, Sun Longde, and a director, Wang Guoliang — "continue to perform their duties at the company as usual," the company said.
A former CNPC chairman, Jiang Jiemin, was fired last week as head of the Cabinet commission that oversees state-run companies. Four executives have been detained.
Another of the executives taken in for questioning last week works for SinoPetroleum, Ltd., a state-owned company that provides technology to oil producers, according to China Business News.
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 5 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
£18000 - £23000 per annum: Recruitment Genius: They work with major vehicle ma...
£16500 per annum: Recruitment Genius: A Chiropractic Assistant is needed in a ...
£18000 - £26000 per annum: Recruitment Genius: They work with major vehicle ma...
£28000 - £30000 per annum: Recruitment Genius: This company provides coaching ...