Chinese authorities have transferred Yang Hua from his position as chairman of China National Offshore Oil Corporation (CNOOC) to a new role as the president of chemical manufacturer and trader Sinochem, writes Xu Yihe.
China has yet to announce a successor to Yang, though sources suggested that CNOOC president Wang Dongjin, who was the effective number two to Yang, will be left to take charge of CNOOC’s day-to-day operations for the time being.
