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China National Petroleum Names Zhou Jiping as New Chairman

April 17 (Bloomberg) -- China National Petroleum Corp., the country’s largest oil producer, promoted Zhou Jiping to chairman the state-run Xinhua News Agency said yesterday.

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

Zhou has almost 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 & Development Cooperation Bureau of CNPC and at subsidiary China National Oil & Gas Exploration & Development Corp.

Calls to spokesmen for CNPC and PetroChina went unanswered yesterday.

PetroChina fell 1.9 percent to HK$9.49 at the close in Hong Kong yesterday. 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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