Reports in the Chinese media, citing company board secretary Li Fengan, say the officials have been charged for crimes which include bribe-taking. Another source, an anonymous Sinopec Qilu official, said, “Apart from the alleged bribe-taking, the officials under probe had also been making profits through internal transactions and irregular sales of assets and products among the company’s subsidiaries.”

According to an official with Sinopec’s discipline department an investigation was underway. However, according to the official, the Communist Party’s top disciplinary body is, so far, not part of the investigation.

The fortunes of Sinopec Qilu have taken a turn for the worse ever since former chairman Wang Yankang and former manager Hou Ximing were arrested in 2002 on charges of alleged bribe-taking. At press time, Sinopec Qilu had not yet issued any statement.