Asia Deputy at China’s biggest oil firm investigated

Deputy at China’s biggest oil firm investigated

Liao Yongyuan, vice president of PetroChina
Liao Yongyuan, vice president of PetroChina

(AA) – A senior executive with China’s largest state-owned oil companies is being investigated for corruption, state media reported on Tuesday.

Liao Yongyuan, vice president of PetroChina, is suspected of “severe disciplinary violations,” the Communist Party’s corruption watchdog said in a statement on its website, the Shanghai Daily reported.

The phrase is usually used to refer to corruption allegations.

Liao, 52, was appointed to his current post in May 2013. He has worked for the China National Petroleum Corp, the parent company of PetroChina, for 30 years.

Several senior executives with the company, including former chairman Jiang Jiemin, have already been put under investigation.

Last month, the Central Commission for Discipline Inspection said it would target 26 giant state-owned firms this year.

The announcement late on Monday came as an online magazine reported that former security chief Zhou Yongkang is suspected of close ties to other allegedly corrupt officials.

Zhou, the ex-head of China’s domestic intelligence agency, is said to have links with Xu Caihou, the former vice chairman of the Central Military Commission who died from cancer on Sunday, as well as Bo Xilai, the disgraced party boss in Chongqing whose wife was jailed for the killing of British businessman Neil Heywood.

Since its launch in 2013, President Xi Jiang’s anti-corruption campaign has investigated tens of thousands of suspects, including dozens of high-profile individuals at the top of the Communist Party.

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