The vice chairman of major Chinese oil producer PetroChina Co. has been placed under investigation as China’s anticorruption drive continues to shake up its massive state-owned parent company. Liao Yongyuan most recently served as vice chairman of U.S.-listed PetroChina and as general manager at the state-owned parent company China National Petroleum Corp., the country’s largest oil and natural gas producer by volume. A brief dispatch by the Communist Party’s Central Commission for Discipline Inspection released Monday night said Mr. Liao was suspected of “serious law and discipline violations,” though no details were given. The term is typically used by the party watchdog in cases of suspected graft. Mr. Liao couldn’t be reached for comment, and it wasn’t known whether he had a […]