Vietnam Orders Prosecution Of Oil Firm Official In Corruption Crackdown
HANOI, Dec 19 (Reuters) - Vietnamese police have ordered the prosecution of an official at scandal-hit state energy firm PetroVietnam over financial losses, the Ministry of Public Security said on Tuesday.
PetroVietnam is at the heart of a sweeping high-level corruption crackdown in the communist state.
The ministry said in a statement that Phan Dinh Duc, a member of PetroVietnam's board of directors, would face prosecution on suspicion of "violation of state regulations on economic management, causing serious consequences".
PetroVietnam told Reuters in an emailed statement it would cooperate with the authorities in the investigation.
Former PetroVietnam chairman Dinh La Thang, 56, was arrested on Dec 8. Thang, also a former member of Vietnam's politburo, was the most senior executive arrested in the scandal.
Police have said they are investigating alleged violations of state rules at PetroVietnam, which resulted in a loss of an 800 billion dong ($35.2 million) investment in local lender Ocean Bank.
The corruption crackdown made global headlines in August when Germany accused Vietnam of kidnapping Trinh Xuan Thanh, a former chairman of PetroVietnam's construction unit, in Berlin after he applied for asylum there.
Vietnamese police denied he had been kidnapped saying he had turned himself in and returned to Vietnam, where he is in detention. The Communist Party has said Thanh will go on trial next month.
(Reporting by Mi Nguyen; Editing by Robert Birsel)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally