Former CNPC Chairman Pleads Guilty to Zhou-Linked Corruption

(Bloomberg) -- The former chairman of China’s biggest oil producer pleaded guilty to accepting bribes and abuse of power in his one-day trial, the first major court case former security chief Zhou Yongkang has been named in.

Jiang Jiemin, who headed the country’s state-owned assets overseer after leading China National Petroleum Corp., confessed to his crimes on Monday and apologized, according to a post on the microblog of the Hanjiang Intermediate People’s Court in Hubei. The verdict will be announced later.

“The crimes I committed are severe and my family assets are far more than my lawful earnings,” Jiang said, according to the microblog post.

Jiang’s prosecution is part of a broad effort to root out alleged corruption by Zhou, a one-time member of the Politburo Standing Committee, and a network of people connected to him, including relatives and provincial officials. President Xi Jinping has also pursued graft in state-owned enterprises, and Jiang was targeted soon after taking over the agency that oversees 53.7 trillion yuan ($8.7 trillion) in state assets.

With the support of Zhou, Jiang allegedly used his influence at CNPC between 2004 to 2008 to help unidentified sources win bids for oil and gas exploration, gas turbine generation and natural gas supply contracts, the official Xinhua News Agency reported Monday.

’Petro Gang’

Jiang and Zhou both spent more than three decades in the energy industry and both served in top Communist Party posts at the Shengli oilfield in the eastern province of Shandong from 1989-1990, where Jiang began his career in 1972, according to their official biographies.

The official People’s Daily newspaper last year labeled Jiang, along with five others from the energy industry, as the “Petro Gang” in an expose on officials linked to the corruption probe of Zhou, the highest ranking official to be snared in Xi’s anti-graft effort. Zhou was charged with corruption-related crimes earlier this month.

Jiang and his wife accepted a total of more than 14 million yuan in bribes, in return for helping steering projects, jobs and promotions during his career at CNPC, Xinhua said. Jiang was also chairman of CNPC’s listed unit, PetroChina Co.

His lawyer Li Fabao declined to comment on the case.

Jiang hasn’t been seen in public since he came under internal investigation by the Communist Party in September 2013, months after he took over the State-owned Assets Supervision Administration Commission, or Sasac.

With assistance from Aibing Guo in Hong Kong.

To contact Bloomberg News staff for this story: Keith Zhai in Beijing at To contact the editors responsible for this story: Andrew Davis at Douglas Wong

Copyright 2016 Bloomberg News.


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