CNPC Storm Hits Shares of HK-Listed Oil Engineering Company

(Hong Kong) – A corruption investigation into China National Petroleum Corp. (CNPC) has cast a shadow over a major oil engineering company, pushing its share price in Hong Kong down.

Hong Kong-listed Wison Engineering Services Co. said on September 2 that its chairman and controlling shareholder, Hua Bangsong, is "assisting investigations by related authorities," sparking speculation the company is linked to a corruption scandal engulfing CNPC, the country's largest producer of oil.