PETROCHINA Co has appointed Zhou Mingchun as chief financial officer, marking the second reshuffle of senior executives at China's biggest oil companies in two weeks.
Zhou will replace Wang Guoliang, who was transferred to parent China National Petroleum Corp, Mao Zefeng, a spokesman at the Beijing-based company, said by telephone yesterday.
Zhou will be responsible for the accounts at a company that has overtaken Royal Dutch Shell Plc to become the world's second-biggest oil producer by market value, Bloomberg News reported. PetroChina reported a fifth year of record profit at 142 billion yuan (US$18.7 billion) for 2006.
Wang, 54, was named chief financial officer at PetroChina in November 1999. He has been chief accountant at the parent company since February, according to PetroChina's Website.
Sun Longde, Shen Diancheng and Liu Hongbin were named vice presidents at PetroChina, the parent said in its Petroleum Daily newsletter yesterday. Lin Aiguo becomes chief engineer, it said, without saying when the appointments take effect.
The three new vice presidents are additional posts and not replacements, Mao said.
Sun was president of unit PetroChina Tarim Oilfield Co, based in Xinjiang Uygur Autonomous Region.
PetroChina shares rose 0.8 percent to a record HK$12.14 (US$1.55) in Hong Kong yesterday. The stock has increased 44 percent in the past year, compared with a 35-percent gain in the benchmark Hang Seng Index.