|
. | . |
|
by Staff Writers Shanghai (AFP) March 17, 2015 A top executive of China National Petroleum Corp, the country's biggest energy company, has been put under investigation, authorities said as the Communist Party's anti-corruption drive targets more state firms. CNPC general manager Liao Yongyuan is being investigated by the ruling party's Central Commission for Discipline Inspection (CCDI) for "severe violations of discipline and law", the watchdog said in a statement late Monday. It gave no details, but the phrase typically refers to official corruption. Liao was also vice chairman and non-executive director for PetroChina, the listed unit of CNPC. In a statement to the Hong Kong stock exchange, PetroChina said business was normal: "The company is in normal production and operation." PetroChina shares were down 0.73 percent in Hong Kong trading late Tuesday morning, but up 0.18 percent in Shanghai, where it is also listed. The announcement of the investigation is the second in two days involving a state-owned enterprise after the CCDI said Sunday that the top executive of the country's third biggest automaker, China FAW Group, was also under investigation for violating the law. The CCDI said early this year that it plans to investigate all major state-owned enterprises. Chinese President Xi Jinping launched a much-publicised drive against corruption after he came to power two years ago, vowing to target both high-level "tigers" and low-ranking "flies". Liao's recent case is not the first involving the energy sector, with the highest-profile casualty so far, fallen security chief Zhou Yongkang, himself a former head of CNPC. In 2013, PetroChina said vice presidents Li Hualin and Ran Xinquan as well as chief geologist Wang Daofu were under investigation. At the time, state media also said CNPC vice president Wang Yongchun was under investigation. The government has not publicly announced the results of those earlier investigations.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |