A U.S. federal judge dismissed a securities lawsuit against PetroChina Tuesday that alleged the company failed to disclose corruption it flagged for Chinese investigators and made misleading statements in two annual reports.… Continue Reading
Posts Tagged: China National Petroleum Corporation
China’s former state security chief Zhou Yongkang, who was sentenced to life imprisonment, leaked state secrets to a fortune teller by the name of Cao Yongzheng.
Cao was introduced to Zhou Yongkang through his eldest son, Zhou Bin, in 2000 and won Zhou’s trust by mentoring his younger son Zhuo Han.… Continue Reading
Here’s the statement from the First Intermediate People’s Court of Tianjin issued June 11 announcing the sentencing of Zhou Yongkang, China’s former domestic security tsar and a member of the powerful Politburo Standing Committee.… Continue Reading
The widening corruption probe in China has ensnared another oil executive, this time the number two man at state-owned Sinopec.
A sweeping corruption investigation into state oil giant China National Petroleum Corp (CNPC) has expanded from domestic oilfields to overseas operations, with two more oil executives being detained for questioning.
Bo Qiliang (pictured), the vice president of CNPC’s subsidiary PetroChina Company Limited, was one of those detained, sources told local English-language magazine Caixin.… Continue Reading
Chinese authorities have seized assets worth at least $14.5 billion from retired domestic security chief Zhou Yongkang as part of a wide-ranging corruption investigation.