FILE PHOTO: Unipec’s President Chen Bo speaks at the 34th Asia Pacific Petroleum Conference (APPEC) in Singapore September 24, 2018. REUTERS/Edgar Su
SINGAPORE (Reuters) – Chinese state oil major Sinopec (600028.SS) has suspended two senior officials at its trading arm Unipec after the company suffered losses, sources with knowledge of the matter said on Thursday.
Unipec’s President Chen Bo and the company’s Communist Party secretary Zhan Qi were suspended from their positions following the losses, said three sources, who asked not to be identified due to the sensitivity of the issue.
The sources did not refer to any wrongdoing on the part of the two men.
Sinopec is Asia’s largest refiner.
A spokesman for Sinopec had no immediate comment.
Reporting by Chen Aizhu and Florence Tan in SINGAPORE, Olga Yagova in MOSCOW; editing by Richard Pullin