The vice president of the China National Petroleum Corporation, Wang Yongchun, came under fire from China's Ministry of Supervision due to "severe breaches of discipline." The ministry, however, was not specific about the allegations. It only provided a one-sentence announcement on its official website, refraining from divulging specific details about the matter. Wang was not available to comment on the matter.
Wang, aside from being vice president of CNPC, heads China's largest oilfield as its general manager. He was being groomed to replace Jiang Jiemin as CNPC's new chairman. Jiang was appointed chairman of the State-Owned Assets Supervision and Administration Commission (SASAC) in April. Zhou Jiping replaced Jiang as CNPC chairman instead.
CNPC is the parent company of PetroChina, the largest oil and gas producer in China. PetroChina is also one of the largest in the world in terms of market capitalization.
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