Sinopec demotes, fines and dismisses executive over inappropriate alcohol purchase

Source: Sinopec

China Petrochemical Corporation (Sinopec) held a press conference to announce the investigation results of Sinopec Guangdong Oil Products Company’s improper purchase of luxury alcohol and its decision to give serious punishment to the responsible people. 

According to the investigation, Lu Guangyu, former General Manager of Sinopec Guangdong Oil Products Company, an affiliated company of Sinopec, seriously violated the company’s decision-making and internal control system, which is “collective discussion and consultation for decisions of key matters, appointment of key leaders, arrangement of key projects, and usage of large fund.” 

His purchase of luxury alcohol based on personal decision without authorization has seriously damaged the image of Sinopec and caused negative impact. He shall be directly held accountable for the consequences.
The Party Committee of Sinopec held special meetings to discuss this matter, and it was decided that Lu Guangyu be dismissed from his office and demoted. In addition, Lu will be fined RMB131,100 for the cost of the consumed red wine. 

Mr. Fu Chengyu, Chairman of Sinopec Group and Secretary of the Party Committee , Mr. Wang Tianpu, Member of the Party Committee and President of Sinopec Corp., Mr. Wang Zuoran, Member of the Party Committee and Chief of Discipline Inspection of Sinopec Group, and Mr. Li Chunguang, Member of the Party Committee and Vice President of Sinopec Group attended the press conference.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs