China National Petroleum Corp., the country’s biggest oil and gas producer, underreported 2012 profit by 603 million yuan ($97 million) because of accounting errors, China’s state auditor said today.
China National Petroleum Corp., the country’s biggest oil and gas producer, will stick to plans to keep expanding internationally, chairman Jiang Jiemin said.
Jiang Jiemin, the president of China National Petroleum Corp. said cleaning up the oil spill from its facilities in the northern port city of Dalian is “crucial”, according to a company statement posted on its website today.
China has removed Xu Yongsheng from his post as one of the deputy heads of its National Energy Administration, the official Xinhua News Agency reported today, citing the Communist Party.
PetroChina Co., the oil producer that became the first $1 trillion company, is the target of a widening anti-corruption probe that threatens the biggest shakeup of China’s oil industry in 15 years.
PetroChina Co. , China’s biggest energy producer, gained a foothold in Europe after agreeing to set up a joint venture with Ineos Group Holdings Plc to accelerate its global expansion.