Citing “discipline violations” China’s ruling Communist Party has expelled Wang Yilin, a former Chairman of CNOOC which holds 25% of Guyana oil rich Stabroek Block.
Reuters yesterday reported that Wang, also former chairman and party secretary of state-owned China National Petroleum Corp (CNPC) was expelled for discipline violations. This is according to Chinese state media yesterday.
According to the report by state-run CCTV, Wang had illegally accepted high value assets and goods and took advantage of his position to help others seek benefits in project contracting and business operations.