PetroChina’s head of crude oil trading calls it quits
BEIJING: The head of crude oil trading at Chinese state energy giant PetroChina has resigned after 20 years with the company, a rare departure from a stateowned enterprise known for retaining talent in the midst of rapid expansion.
Li Chuang, 42, head of the crude oil department at PetroChina’s trading vehicle Chinaoil, resigned last month, having spent the last two years leading a global team of nearly 50 crude oil traders and marketers.
Chinaoil has chosen as Li’s replacement Zhang Peng, deputy general manager in the same department, who is experienced in derivatives and risk management.
Sources said Li would be on gardening leave for three months before making his next move. Reuters