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New investigation centres on CNPC official

  • Märkte: Crude oil
  • 17.03.15

Another official of state-owned oil firm CNPC in being investigated, as the country's oil firms continue to face heightened scrutiny under Chinese president Xi Jinping's anti-corruption drive.

CNPC's general manager Liao Yongyuan is under investigation for "serious disciplinary violations", according to China's central commission for discipline inspection (CCDI).

"The company's operations remain normal," CNPC said. The company has the most number of officials within the oil sector that are accused of corruption, including its former general manager and the country's previous security chief Zhou Yongkang, former chairman Jiang Jiemin and former deputy manager Wang Yongchun.

The CCDI is targeting mainly oil, power and steel firms in a new round of investigations centring on 26 companies this year, including state-controlled oil firms CNPC, Sinochem and CNOOC.

kt/rjd



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