Energy News  
OIL AND GAS
Former Sinopec president gets 15 years for graft
by Staff Writers
Beijing (AFP) Jan 24, 2017


China sentenced a former president of state-run energy giant Sinopec to 15 and a half years for corruption Tuesday, official media said, the latest punishment meted out to a prominent figure in the graft-riddled oil sector.

Wang Tianpu, the former general manager of China Petroleum and Chemical Corporation (Sinopec Group), was also fined 3.2 million yuan ($470,000), the official Xinhua news agency reported.

The Nanchang City Intermediate People's Court in the eastern province of Jiangxi ordered Wang's illicit gains to be confiscated and said that the assets he embezzled should be returned to Sinopec, the national broadcaster CCTV reported.

Wang's sentence came less than a week after Liao Yongyuan, a former executive with Sinopec's parent company CNPC, was jailed for 15 years on similar charges.

Wang was charged in November for accepting almost 33.5 million yuan in bribes and embezzling nearly 800,000 yuan of state-owned assets, China's top anti-graft authority, the Central Commission for Discipline Inspection (CCDI), said.

President Xi Jinping launched a much-publicised drive against corruption after he came to power in 2012, vowing to target both high-level "tigers" and low-ranking "flies".

The CCDI said in 2015 that it plans to investigate all major state-owned enterprises.

But critics say a lack of transparency around the purge raises concerns that it could be used by Xi to eliminate political enemies.

Analysts say China has failed to implement institutional safeguards against corruption, including an independent judiciary and free media.

bur/dly/amu

SINOPEC - CHINA PETROLEUM & CHEMICAL CORPORATION


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil state of Texas still facing some economic pressures
Washington DC (UPI) Jan 22, 2017
The Texas oil and gas industry stabilized during the latter half of last year, though there are secondary pressures remaining, an economist said. Energy executives responding to a survey from the Federal Reserve Bank of Dallas said the outlook for 2017 had improved over last year. During the fourth quarter, state oil and gas production held relatively stable and measured indices showed ... read more


OIL AND GAS
World's First Weather-Cracking Wind Satellite Aeolus to Improve Future Forecasts

NASA's Terra Satellite Sees Alaskan Volcanic Eruption Wrapped in White

China to launch electromagnetic monitoring satellite for earthquake study

Study tracks 'memory' of soil moisture

OIL AND GAS
Clocks 'failed' onboard Europe's navigation satellites: ESA

Russia, China Work on Joint High-Precision Satellite Navigation System

Raytheon completes qualification testing of next-gen GPS Launch and Checkout System

Oregon deploys DT Research Rugged Tablets for Construction Projects

OIL AND GAS
Trees supplement income for rural farmers in Africa

How much drought can a forest take?

Activists slam giant Indonesian mill for environmental damage

Norway spurs $400mn rainforest fund at Davos

OIL AND GAS
Populus dataset holds promise for biofuels, materials, metabolites

Handheld Sensor Unit Determines Biofuel Content Of Diesel Blends

Dual-purpose biofuel crops could extend production, increase profits

Iowa State engineer helps journal highlight how pyrolysis can advance the bioeconomy

OIL AND GAS
Scientists lay foundations for new type of solar cell

France issues first 'green bonds' with record 7 bln euro sale

A big nano boost for solar cells

Xinhua: U.S. wasting opportunity in clean energy

OIL AND GAS
Largest US offshore wind farm gets green light

Renewables a big boost for GE's profits

Essen, Germany wins greenest city honors

Obama puts offshore North Carolina on wind energy map

OIL AND GAS
Rio Tinto signals coal exit with Australia sale

IEA urges Poland to curb reliance on coal

People aren't the only beneficiaries of power plant carbon standards

China to cut coal capacity by 800 million tonnes by 2020

OIL AND GAS
2016 baby bump after China relaxes one-child rule

Hong Kong's 'Mr Pringles' announces leadership bid

Hong Kong leader slams independence movement in final speech

Robert Chow: Hong Kong's pro-Beijing firebrand









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.