Chinese arrest revives merger speculation

摘要

The Chinese government has swooped on another top oil executive in its purge of alleged corrupt officials — Wang Tianpu, chairman of state-owned China Petrochemical, parent company of state-controlled Sinopec. The wide-ranging nature of investigations by the communist party’s central commission for discipline inspection (CCDI), which enforces intra-party discipline, is fuelling talk that the government may merge state-run oil giants.