Leadership switch at top Chinese oil firms
Reshuffle to overhaul state sector as part of President Xi's insistence that market forces play a more decisive role
Hong Kong
CHINA is preparing to shuffle the leadership of its biggest oil companies, helping to clear a path in a crucial area of the economy for President Xi Jinping as he plans his overhaul of the nation's bloated state sector.
Changes to the top executives at China National Petroleum Corp (CNPC), Sinopec Group and China National Offshore Oil Corp (CNOOC) could accelerate market-driven reform of the oil and gas industry. The new chairmen will also be challenged to steer the oil giants through Mr Xi's corruption crackdown, which has wracked the industry, and a tumble in global crude prices.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold prices flat with focus on US economic data
Oil ends slightly firmer after US crude stock draw, firmer dollar
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
Insurance firms deny Chevron’s US$57 million claim for Iran oil seizure
China's approves first gene-edited wheat in step to open up GM tech to food crops
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture