Date
24 September 2017
PetroChina headquarters in Beijing. Photo: Bloomberg
PetroChina headquarters in Beijing. Photo: Bloomberg

PetroChina Chongqing official said to be under probe

Li Jianhua, chief accountant at the Chongqing unit of PetroChina Marketing Co. Ltd., the sales arm of PetroChina Co. Ltd. (00857.HK, 601857.CN), was taken way from office in early March by officials from the local procuratorate, news website caixin.com reported Tuesday, citing several sources.

Li, who is a veteran at the unit’s financial accounting system, was director of the finance department before taking up the current position. He is suspected of complicity in rule violation in procurement and hiring, which have been reported by internal staff for quite some time, according to the report.

Li was not the only one in the unit that was under investigation. Others included one person in the finance department, one in the information center and one retired employee in the production management department, an internal source was quoted as saying.

The investigation on Li led the unit to conduct thorough checks internally in mid-March, the report said.

PetroChina currently controls about 70 percent of Chongqing’s oil market, with sales revenue in the city amounting to 20.1 billion yuan (US$3.23 billion) in 2012. Chongqing depends on oil supply through pipes from Petrochina’s Lanzhou unit in Gansu province.

–Contact HKET at [email protected]

TL/JP/RC

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