Ex-CNOOC executive ‘probed’

03 April 2015, News Wires – A former executive at China National Offshore Oil Corporation (CNOOC) is under investigation as the country widens its probe into corruption at top companies, according to a report.

CNOOC Limited

CNOOC Limited

Wu Zhenfang, a former general manager at the state-owned oil giant, is being probed over “serious disciplinary violations”, Reuters reported, citing authorities in Guangdong province.

Authorities in the province have also launched an investigation into Xiao Peng, deputy general manager and board member of state-run China Southern Power Grid, for “work-related crimes”, the report continued.

President Xi Jinping has spent the past two years waging war on corruption, saying it threatens the survival of the ruling Communist Party.

Late last month China charged Wang Yongchun, former deputy manager of China National Petroleum Corporation (CNPC), with bribery and the abuse of power.

Wang was put under investigation in August 2013 for “serious disciplinary offences”, immediately being removed from his post the same month and later expelled from the ruling Communist Party in June 2014.

Several other senior CNPC executives and executives from other Chinese stat ecompanies have already been put under investigation.

In early March, Liao Yongyuan, former vice chairman of US-listed PetroChina and general manager of CNPC, was put under investigation and immediately resigned from his positions.

Also in March, former CNPC chairman Jiang Jiemin was formally charged.


– Reuters

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