Ex-CNPC chief caught in cross hairs of Beijing’s anti-graft campaign [Gas in Transition]

Ex-CNPC chief caught in cross hairs of Beijing’s anti-graft campaign [Gas in Transition]

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Natural Gas News
Ex-CNPC chief caught in cross hairs of Beijing’s anti-graft campaign [Gas in Transition]

Summary

Fresh corruption probes against an ex-chairman of CNPC and other high-flying industry veterans could mark the start of a new cycle in China's decade-long crackdown on graft in the energy sector. by: Shi Weijun

A new round of anti-corruption investigations targeting current and former officials in China’s NOCs has sowed fears of a fresh crackdown on the country’s oil and gas sector, more than a decade after an unprecedented campaign launched shortly after Xi Jinping became president ensnared dozens of senior industry officials and executives. Wang Yilin, the former chairman and Chinese Communist Party (CCP) chief of state-owned CNPC, was placed under investigation, according to a one-line statement published in early February by the Central Commission for Discipline Inspection (CCDI), the party’s top corruption watchdog. Wang is suspected of “serious violations of discipline and law”, a common euphemism for corruption in China. Wang served as CNPC chairman from April 2015 until his retirement in January 2020, when he was replaced by incumbent Dai Houliang. Wang moved to the top job at CNPC from smaller o...