Energy Insider: Former Sinochem Executive Charged With Bribery and Abuse of Power

Published: Apr. 9, 2026 3:29 p.m. GMT+8

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Former Sinochem vice general manager arrested and indicted

Feng Zhibin, a former vice general manager of China’s state-owned chemical giant Sinochem Group, has been arrested and indicted on charges of suspected bribery, utilizing influence for bribery, and abuse of power by state-owned company personnel, the Supreme People’s Procuratorate said on Wednesday.

Chinese chemical stocks surge after missile attack on Saudi industrial hub

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Feng Zhibin, ex-Sinochem VP, arrested for bribery, influence peddling, power abuse.
Chinese chemical stocks surge post-Saudi missile attack; firms like 600227.SH hit 10% limits.
China halves fuel hikes to 420/400 yuan/ton; air storage seeks viability; AI centers strain grids.

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Who’s Who

Sinochem Group: Feng Zhibin, former vice general manager of China's state-owned chemical giant Sinochem Group, was arrested and indicted for suspected bribery, utilizing influence for bribery, and abuse of power by state-owned company personnel, per the Supreme People’s Procuratorate.

Guizhou Chitianhua Co. Ltd.: Guizhou Chitianhua Co. Ltd. (600227.SH) shares surged, hitting the 10% daily trading limit, after a missile attack on Saudi Arabia's Jubail industrial hub threatened global petrochemical supply, prompting buyers to seek Chinese alternatives.

Sichuan Lutianhua Co. Ltd.: Sichuan Lutianhua Co. Ltd. (000912.SZ) hit its 10% daily trading limit on Tuesday after a missile attack on Saudi Arabia’s Jubail industrial hub, driving surges in Chinese chemical stocks as buyers sought alternatives to petrochemical disruptions.

Nantong Jiangtian Chemical Co. Ltd.: Nantong Jiangtian Chemical Co. Ltd. (300927.SZ) shares jumped 20% on Tuesday after a missile attack on Saudi Arabia’s Jubail industrial hub threatened global petrochemical production, driving buyers to Chinese suppliers.

Zhongchu Guoneng (Beijing) Technology Co. Ltd.: Ji Lü, general manager of Zhongchu Guoneng (Beijing) Technology Co. Ltd., stated that China's compressed-air energy storage industry must prove commercial viability by cutting costs, building standards, and operating reliably at scale to gain market acceptance. (Interview on April 2 at an industry conference.)

China Mobile Energy Technology Co.: Guo Yunzheng, an executive at China Mobile Energy Technology Co., warned at the 14th Energy Storage International Conference and Expo that AI data centers will challenge power systems starting 2025 with high power, high volatility, and high capacity demands. (42 words)

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