Fourth barrel of oil executives are being investigated again to prolong the wave of oil anti-corruption

category:Finance
 Fourth barrel of oil executives are being investigated again to prolong the wave of oil anti-corruption


In May 2013, Yuan Haike has served as deputy general manager of Shaanxi Yanchang Petroleum Co., Ltd.

Fourth barrel of oil and money bag

Yanchang oil, known as the fourth barrel of oil in China, is the fourth largest oil company in China after PetroChina, Sinopec and CNOOC. This is a large-scale energy and chemical enterprise integrating the development, utilization and transformation of various resources such as oil, natural gas and coal. In 2019, it ranked 263 among the Fortune 500 enterprises.

Yanchang oil is subordinate to the peoples Government of Shaanxi Province, and its administrative level is the department level unit. Industrial and commercial data show that the extended oil registration place is in Yanan City. Shaanxi state owned assets supervision and Administration Commission (SASAC) is a major shareholder with a subscribed amount of 5.1 billion yuan, accounting for 51% of the shares. The other two shareholders are Yulin SASAC, accounting for 5% of the shares, and Yanan SASAC, accounting for 44%.

The enterprise began in 1905 when the Qing government established the Yanchang oil plant. In 1907, Yanchang oil was drilled into the first oil well on land in China. In 1998 and 2005, after two restructurings, oil production increased. In 2007, the crude oil output exceeded 10 million tons; in 2010, the sales revenue exceeded 100 billion yuan for the first time; in 2013, it was listed as one of the top 500 enterprises in the world, which is also the first top 500 enterprise in Western China.

According to the public data, Yanchang oil has 22 wholly-owned and holding subsidiaries, 8 branches, 1 direct subordinate organization and 10 joint-stock companies, and has 3 listed companies, namely Yanchang Oil International (hk00346), Xinghua (sz002109) and Yanchang chemical construction (sh600248). Yanchang oil also has a diversified financial platform and financial companies, investment companies, Yanchang low carbon fund, guantian leasing company and other financial institutions, and shares in Changan bank and Yongan insurance.

Once exposed the corruption case, the ten-year helmsman has been investigated

In this wave of anti-corruption, Shen Hao, known as Dinghaishenzhen needle of Yanchang oil, also recently lost his horse.

On March 4, the website of the supervision committee of Shaanxi Provincial Commission for Discipline Inspection released news. With the approval of the Shaanxi Provincial Committee of the Communist Party of China, the supervision committee of Shaanxi Provincial Commission for Discipline Inspection investigated the serious violation of discipline and law by Shen Hao, the former Secretary of the Party committee, the chairman of the board of directors and the former vice chairman of the financial committee of the provincial peoples Congress of Shaanxi Yanchang Petroleum (Group) Co., Ltd.

Shen Hao has been at the helm of the company for ten years, opening up a road of substantial expansion. At the beginning of 2007, Shen Hao served as the chairman and Secretary of the Party committee of Yanchang Petroleum Group, the chairman of the board of directors in 2015 and the Secretary of the Party committee in 2017. During this 10-year period, Yanchang Petroleum became the first fortune 500 enterprise in Western China, and it has increased year by year in the list. Extending the weight of oil in Shaanxis economy is becoming more and more important.

He Jiuchang is the successor of Shen Hao in charge of Yanchang oil. He has been in charge of Yanchang oil for more than four years. However, two days before Shen Hao was expelled from the party, he was expelled from the party and public office.

In fact, as early as 2012, the extended system investigated large-scale corruption.

According to the new Beijing News, Li Xing took bribes of 5.3 million yuan when he was in charge of infrastructure projects and building the extended oilfield family building, was sentenced to 15 years in prison and 300000 yuan in confiscation of property.

In 2013, Zhao Faqi, the protagonist of the 100 billion mineral case, reported Yanchang oilfield under his real name. He reflected that Yanchang oil and Zhongyi energy investment in the first phase of the project under construction in Yuheng coal chemical industry park in Shaanxi Province used the false project under construction as the price evaluation to obtain state-owned assets; Yanchang oil and Zhongyi energy jointly entrusted Shaanxi zhengdexin assets evaluation company to evaluate the value of the illegally exploited Baltic coal mine, suspected of collusion to defraud state-owned assets.

During this period, chairman of Yanchang Petroleum Co., Ltd. was Shen Hao and he Jiuchang successively.

From February to April 2017, the central inspection team made special comments on the corruption in the field of mineral resources in Shaanxi, pointing out that the corruption in the exploration, mining, operation of mineral resources and capital increase and share expansion of state-owned companies has not yet been uncovered. In August of that year, Wang Shubao, the general manager of Yanchang oilfield, was put on record for investigation on the crime of bribery and took compulsory measures for arrest. Wang Shubao, like most people in the oil system such as Yuan Haike, has been in the oil industry since his work. The reporter noted that he Jiuchang was mentioned in the Circular of the Commission for Discipline Inspection as keen to enter the circle in order to seek personal career prospects. In addition, the circular pointed out that Shen Hao was greedy, corrupt, morally corrupt, and engaged in power and color trading; he had no fear, no law and discipline, used power for personal gain, relied on the enterprise to eat the enterprise, used the opportunity of being the top leader of the state-owned enterprise to engage in power and money trading, and reduced the power given by the party and the people into a tool for personal gain. Beijing News reporter Liu Chengwei editor Wang Jinyu sun Yong proofread Yang Xuli source: Beijing News Editor in charge: Yang Bin_ NF4368

From February to April 2017, the central inspection team made special comments on the corruption in the field of mineral resources in Shaanxi, pointing out that the corruption in the exploration, mining, operation of mineral resources and capital increase and share expansion of state-owned companies has not yet been uncovered.

In August of that year, Wang Shubao, the general manager of Yanchang oilfield, was put on record for investigation on the crime of bribery and took compulsory measures for arrest. Wang Shubao, like most people in the oil system such as Yuan Haike, has been in the oil industry since his work.

The reporter noted that he Jiuchang was mentioned in the Circular of the Commission for Discipline Inspection as keen to enter the circle in order to seek personal career prospects. In addition, the circular pointed out that Shen Hao was greedy, corrupt, morally corrupt, and engaged in power and color trading; he had no fear, no law and discipline, used power for personal gain, relied on the enterprise to eat the enterprise, used the opportunity of being the top leader of the state-owned enterprise to engage in power and money trading, and reduced the power given by the party and the people into a tool for personal gain.

Beijing News reporter Liu Chengwei editor Wang Jinyu sun Yong proofreader Yang Xuli