China National Petroleum Names Zhou Jiping as New Chairman

China National Petroleum Corp., the country’s largest oil producer, promoted Zhou Jiping to chairman, according to the state-run Xinhua News Agency.

Zhou, 61, most recently served as the company’s vice chairman and president and had taken on the duties of chairman since Jiang Jiemin became head of the State-owned Assets Supervision & Administration Commission. The commission known as SASAC oversees 115 of China’s biggest state-owned companies from CNPC to China Mobile Ltd.

Zhou has nearly 40 years of experience in China’s petrochemical industry, according to the website of PetroChina Co., the listed unit of CNPC. He previously worked in the International Exploration and Development Cooperation Bureau of CNPC and at the subsidiary China National Oil & Gas Exploration & Development Corp.

Calls to spokesmen for CNPC and PetroChina went unanswered today.

PetroChina fell 1.9 percent to HK$9.49 at the close in Hong Kong. Xinhua reported Zhou’s appointment after the close of regular trading.

To contact the reporter on this story: Benjamin Haas in Hong Kong at bhaas7@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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