PetroChina’s head of crude oil trad­ing calls it quits

New Straits Times - - Business -

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

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