Graft Inquiry at CNPC Uncovers Shady Deal Involving Productive Oil Block

The oil transmission station in Wuqi County handles all oil produced by the Wangtai block

(Beijing) – A little-known deal related to an equally little-known yet highly productive oilfield has come to light as a graft investigation unfolds at oil giant China National Petroleum Corp. (CNPC). A businessman with strong ties to officials is behind the deal, which generated hundreds of million in annual income for its backers, despite little investment.