News / Economy

Sources Report PetroChina Corruption Probe Expands

FILE - Jiang Jiemin, president of PetroChina Ltd, speaks during an announcement of the company's results in Hong Kong Wednesday, Mar. 19, 2008.
FILE - Jiang Jiemin, president of PetroChina Ltd, speaks during an announcement of the company's results in Hong Kong Wednesday, Mar. 19, 2008.
Reuters
— The Chinese government has questioned two more executives from China National Petroleum Company (CNPC) as part of a wider graft investigation into the state energy giant, according to two people with direct knowledge of the matter.
 
CNPC and its listed unit, PetroChina, are at the center of one of the biggest corruption investigations into the Chinese state sector in years.
 
Wen Qingshan, CNPC's chief accountant, and Wang Lihua, head of PetroChina's oil trading vehicle Chinaoil, were taken away by authorities last week, said the people, who declined to be identified because they were not authorized to talk to the media. Wang is also CNPC's deputy chief economist.
 
It was not immediately clear whether the two officials were targets of investigation or assisting in the broader probe.
 
Two officials at Chinaoil - Zheng Jun, head of crude oil trading, and a company lawyer who only gave his surname as Chen - said the report on Wang was “totally incorrect”.
 
“Such a thing… has never happened to president Wang,” said Zheng. “She is still handling daily management work.”
 
Efforts to contact Wang and Wen were unsuccessful. Calls to CNPC media officials were not answered, and PetroChina spokesperson Mao Zefeng declined to comment.
 
Beijing stunned the Chinese energy industry in August and September with announcements that five former top executives at PetroChina and CNPC were being investigated for “serious discipline violations” - shorthand generally used to describe graft.
 
They included Jiang Jiemin, former chairman of both entities.
 
Authorities have given no further details on what these officials may have done wrong, but the investigations suggest President Xi Jinping wants to tackle graft in an industry that ranks as one of the most powerful corners of the state-owned corporate sector.
 
CNPC chief accountant Wen, 54, was also appointed chairman of listed Kunlun Energy in August, replacing Li Hualin, who the company said was being investigated by authorities. Kunlun Energy shares were suspended early on Tuesday. A PetroChina official said the company may issue a statement later on Tuesday.
 
Wang, one of the few top female executives at the state giant, has been chief of Chinaoil since 1998. The company has expanded rapidly over the years to become an influential global player in oil markets.

You May Like

Koreas Mark 61st Anniversary of War Armistice

Muted observances on both sides of heavily-armed Demilitarized Zone that separates two decades-long enemies More

Judge Declares Washington DC Ban on Public Handguns Unconstitutional

Ruling overturns capital city's prohibition on carrying guns in pubic More

Pricey Hepatitis C Drug Draws Criticism

Activists are using the International AIDS Conference to criticize drug companies for charging high prices for life-saving therapies More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Students in Business for Themselvesi
X
Mike O'Sullivan
July 26, 2014 11:04 AM
They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Not Even Monks Spared From Thailand’s Junta-Backed Morality Push

With Thailand’s military government firmly in control after May’s bloodless coup, authorities are carrying out plans they say are aimed at restoring discipline, morality and patriotism to all Thais. The measures include a crackdown on illegal gambling, education reforms to promote students’ moral development, and a new 24-hour phone hotline for citizens to report misbehaving monks. Steve Sandford reports from Bangkok.
Video

Video Virtual Program Teaches Farming Skills

In a fast-changing world beset by unpredictable climate conditions, farmers cannot afford to ignore new technology. Researchers in Australia are developing an online virtual world program to share information about climate change and more sustainable farming techniques for sugar cane growers. As VOA's Zlatica Hoke reports, the idea is to create a wider support network for farmers.
Video

Video Airline Expert: Missile will Show Signature on Debris

The debris field from Malaysia Airlines Flight 17 is spread over a 21-kilometer radius in eastern Ukraine. It is expected to take investigators months to sort through the airplane pieces to learn about the missile that brought down the jetliner and who fired it. VOAs Carolyn Presutti explains how this work will be done.
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.