Probe embraces 3 more ex-CNPC execs
Print Edition
Three more former senior officials of China National Petroleum Corp are being investigated for suspected violation of Party discipline, a development that may trigger a major upheaval at the country’s largest oil company.
Li Hualin, deputy general manager of CNPC and vice president of PetroChina Co, CNPC’s flagship listed unit, Ran Xinquan, vice president of PetroChina, and Wang Daofu, PetroChina’s chief geologist, are being investigated for “suspected severe discipline violations,” the State-owned Assets Supervision and Administration Commission said in a statement yesterday, citing its discipline committee.
The state-owned asset watchdog’s statement didn’t give details of the allegations against the three officials, but “discipline violations” usually refer to corruption.
PetroChina said in a filing to the Hong Kong stock exchange that the three executives had resigned. Its shares were suspended from trading yesterday pending the announcement.
But PetroChina’s “normal business operations are not affected,” Chairman Zhou Jiping said in the filing.
On Monday, Xinhua news agency said Wang Yongchun, deputy general manager of CNPC and head of the company’s Daqing Oilfield Co, was being investigated for disciplinary breaches.
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