SINGAPORE, Jan 20 (Reuters) - Top Asian oil and gas producer
PetroChina has swapped the portfolios of two top
trading executives in a management reshuffle, sources with
direct knowledge of the matter said on Wednesday.
The personnel changes, aimed at keeping managers fresh with
new challenges, are not likely to alter in a significant way the
business strategy of PetroChina's flagship trading vehicle China
National United Oil Corp, or Chinaoil, which has reaped record
profits in 2020, the sources said.
Zhao Yong, previously president of Chinaoil and who started
as one of the firm's founding crude oil traders some 26 years
ago, has, since November, become the general manager of
PetroChina Fuel Oil Co Ltd.
The unit specializes in fuel oil trading and bitumen
production and marketing, and holds a licence to supply bonded
marine fuel in the east China a bunkering hub of Zhoushan.
Huo Jinsan, former president of PetroChina Fuel Oil and a
veteran in domestic chemicals marketing, has taken Zhao's role.
PetroChina did not respond to requests for comment.
The changes are the latest of in a series of new
appointments since 2017, when Tian Jinghui was appointed
"The idea is to move around top managers who have stayed in
the same job for a long time and take on new challenges," said
one company executive, who requested anonymity.
Also among recent moves, Zhang Tong, Chinaoil's former vice
president in charge of refined products trading, has been
appointed to run the firm's Hong Kong operations which cover
fuel trading and retailing in Hong Kong, Macau, Taiwan, Vietnam
and the Philippines, as well as financing in Asia.
Zhang, who is going to take on the new role in coming weeks,
replaces Wang Zhijun, who has become head of Chinaoil's
Kazakhstan unit, the sources said.
In a posting on its official social media account on
Tuesday, Chinaoil said it had between 2016 and 2020 traded a
total of 2.4 billion tonnes of oil and gas, about 9.6 million
barrels of oil equivalent a day, a volume that rivals global
traders like Trafigura and Glencore.
(Reporting by Chen Aizhu; Editing by Florence Tan and Robert