Sinopec oil division chief Xue Wandong fired amid investigation
The president of Sinopec Group's oilfield services unit has been dismissed and is currently under investigation, mainland media reported yesterday.
The president of Sinopec Group's oilfield services unit has been dismissed and is currently under investigation, mainland media reported yesterday.
Xue Wandong, the president of Sinopec Oilfield Services Corp (SOSC), was relieved of his duties by the company's party apparatus, according to the influential news outlet Caixin. He is being investigated for reasons that were not specified.
China's corruption watchdog had launched a series of inspections into state-owned enterprises and government bodies including Sinopec Group, the parent of Sinopec.
Sinopec said in a statement on its Weibo account that it had zero tolerance for behaviour that "violates discipline or the law".
Caixin said Xue was taken away by investigator yesterday morning.
SOSC has been planning a US$1.5 billion IPO in Hong Kong, people familiar with the matter said in August.
SOSC entered into a joint venture with US-listed Weatherford International earlier this year, in order to tap into the country's potentially vast shale resources.
President Xi Jinping , who took office in March of last year, has made fighting pervasive corruption a central theme of his administration, warning the problem is so severe it could threaten the Communist Party's survival.
The party announced in July that China's former domestic security chief Zhou Yongkang was being investigated for "serious disciplinary violations", the usual euphemism for corruption. He was once the head of state oil giant China National Petroleum Corporation.
Caixin's report, however, said it was still unclear if Xue has been implicated in Zhou's case or if his alleged wrongdoing was found by the central authorities' inspection team.
Zhang Sujun, vice-minister of justice, said last month the government would make an announcement about Zhou once the anti-graft agency had completed its investigation.
Zhang said Zhou had been investigated for misconduct by the party's Central Commission for Discipline Inspection. Its findings could be used in court.