Ex-CNPC exec Wang faces charges

22 July 2015, News Wires – The former deputy manager of China National Petroleum Corporation went on trial this week on charges of committing “serious disciplinary offences”, according to a report.



Wang Yongchun, who used to be a top executive with China’s biggest oil company and PetroChina parent, appeared in court in Xiangyang, central Hubei province on Monday, state news agency Xinhua reported.

Xinhua said the trial involves charges of “holding a huge amount of property with unidentified sources” and “abuse of power by a staff member of a state-owned company”.

Wang, who was charged in March, was put under investigation in August 2013 before being removed from his post the same month and later expelled from the ruling Communist Party in June last year.

Authorities in Hubei province then filed charges with the Xiangyang Intermediate People’s Court.

Prosecutors believe Wang, also former general manager of the Daqing oilfield, took advantage of his posts to seek profit, while he allegedly asked for and accepted a substantial amount in bribes.

He reportedly owned property that clearly exceeded his legitimate earnings and could not identify the source of the additional income.

Wang also abused his power while working in the state-run energy sector, causing it serious losses, reports said.

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

As a results, several other senior executives at state-owned energy and other industry firms have already been put under investigation, charged or jailed.

– Upstream

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