Top oil exec facing criminal investigation
Print Edition
A former senior official with oil giant PetroChina has been placed under criminal investigation for alleged bribery, the Supreme People’s Procuratorate said yesterday.
Liao Yongyuan resigned as vice chairman and non-executive director of the listed arm of China National Petroleum Corp (CNPC) — the country’s biggest oil producer — on March 18, a day after being investigated by the Central Discipline Inspection Commission for “serious disciplinary violations,” the watchdog said in a statement, also released yesterday.
Liao, who is a former general manager of CNPC, was also expelled from the Party, it said.
The disciplinary investigation found that Liao had concealed his personal affairs from the authorities, and offered and accepted huge bribes to gain promotions for himself and others, the statement said.
The watchdog ruled also that he had offended socialist morals and committed adultery.
As a senior cadre, Liao seriously violated Party rules and failed to show restraint even after the new leadership launched its anti-corruption campaign in 2012, it said.
Liao had worked for CNPC for 30 years. He was appointed general manager of the parent company in 2013 and vice chairman of PetroChina last year.
His last public appearance was on March 9 when he received a delegation from a Singaporean energy company.
According to thepaper.cn, Liao’s alleged activities were reported by his colleagues during a disciplinary inspection of CNPC earlier this year.
Liao is not the first senior official from CNPC or PetroChina to be placed under investigation, though none has stood trial.
Jiang Jiemin, the former chairman of both companies, and Wang Yongchun, former vice general manager of CNPC, have both come under close scrutiny.
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