facebook
twitter
rss
account
search
search
 

CNPC probing corruption

Company looking to clean house.
By Daniel J. Graeber   |   Aug. 15, 2014 at 9:29 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-1671408108297/2014/1/8e33ae9fd36881f7eb2aef9641358e99/CNPC-probing-corruption.jpg
BEIJING, Aug. 15 (UPI) -- China National Petroleum Corp. said it was undergoing an internal probe after an audit uncovered widespread corruption.

Chinese President Xi Jinping vowed to crack down on official corruption, which has been publicly recognized by his administration as a threat to the country's overall security.

CNPC said Thursday it would work to clear "private coffers" among its subsidiaries with the aim of addressing embezzlement and general corruption.

As much as $98 million was redirected to staff at CNPC and its subsidiaries, including PetroChina, the National Audit Office found.

CNPC said its subsidiaries are tasked with vetting its leadership and issuing detailed reports on corruption among their ranks.

Four executives at PetroChina were dismissed last year for "serious violations" of corporate principles. Rumors circulated in mid 2013 that PetroChina would be split up because of a corruption scandal.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
Topics: Xi Jinping
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Freedom variant LCS takes to water Freedom variant LCS takes to water
2
MDA demos tracking, targeting capability of Aegis MDA demos tracking, targeting capability of Aegis
3
Australia upgrading Tiger helos; receives MH-60R from U.S. Australia upgrading Tiger helos; receives MH-60R from U.S.
4
CNN absent from the Dish Network lineup CNN absent from the Dish Network lineup
5
Statoil makes oil find in North Sea Statoil makes oil find in North Sea
Trending News
Around the Web
x
Feedback