Home MMBIZ News China to Investigate Vice President of Oil Firm CNPC

China to Investigate Vice President of Oil Firm CNPC

Wang Yongchun, vice president of China’s biggest oil company, the China National Petroleum Corp, has been put under formal investigation for “severe breaches of discipline”, the Chinese government said.

China’s Ministry of Supervision made the announcement in a notice posted on its official website (www.mos.gov.cn).It did not specify the alleged breaches.

CNPC is the parent of Petro- China , China’s largest oil and gas producer.

Wang also serves as the head of China’s largest oilfield at Daqing in the northeast.

Wang had been regarded as a potential candidate to replace CNPC’s former chairman, Jiang Jiemin, who was appointed as chairman of the State-Owned Assets Supervision and Administration Commission (SASAC) earlier this year. The job went to Zhou Jiping in April.

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