Oil giant urges calm during corruption probe into four senior executives

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A Chinese national flag flutters between PetroChina's flags at headquarters in Beijing. Photo: Reuters

Published: 1:40pm, 30 Aug 2013Updated: 2:49pm, 30 Aug 2013

The state-owned oil and gas giant once run by former Communist Party leader Zhou Yongkang has pledged to maintain stability despite a government corruption probe into four of its senior executives.

The piece was published on the day the South China Morning Post exclusively confirmed that Zhou Yongkang was himself under investigation over alleged graft.

A report by China Petroleum Daily, a China National Petroleum Corporation company publication, on Friday shows how deeply the investigations have shaken the conglomerate. Over the last week, 16,300 staff members have been briefed on instructions from the party leaders in Beijing, the report, also released on the company’s website on Thursday, said.

“In the current extraordinary times, it is the explicit wish of the comrades in the central leadership to guarantee the overall stability of the company,” the report quoted CNPC chairman Zhou Jiping telling a video-conference of senior executives on Wednesday.

“All work units and leaders at all levels should ensure […] the absence of chaos in the ranks and that drilling areas are harmonious, so that the party’s central leadership and the state council can put their minds to rest,” Zhou said.

“The focus is on strengthening the supervision of cadres in leadership positions - especially leading executives,” he said. The company should “seriously explore effective ways to ‘lock powers into the system’s cage’,” added Zhou.