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More PetroChina Top Executives Investigated Over Corruption

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Chinese government officials are questioning some more executives at PetroChina in connection with the investigations carried out on the scandal that erupted at the state run oil and gas firm. The Assets Supervision and Administration Commission (SASAC), set up by the Chinese government to probe the irregularities in China’s top oil and natural gas firm, are investigating three more higher officials accused of involving in graft operations within the firm.

Chinese President Xi Jinping has been on an anti-corruption campaign since the beginning of the Bo Xilai trial, which is also related to investigating the corrupt activities of Bo. SASAC has identified PetroChina chief geologist Wang Daofu, PetroChina Vice President Ran Xinquan and Li Hualin, Deputy General Manager of the China National Petroleum Corporation (CNPC), the parent copy of PetroChina, for investigation for involving in corrupt activities. These three senior officials have been added to the investigation list, which initially included only the vice president of CNPC, Wang Yongchun. A spokesperson from CNPC has also confirmed that Wang Yongchun has submitted his resignation. PetroChina has also filed information with the Hong Kong Stock Exchange that Wang Daofu, Ran Xinquan and Li Hualin have also submitted their resignations. When the media contacted the four officials charged, they refused to comment on the charges leveled against them.

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Authored by: Harrison Barnes