Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries because of the oil price crash, according to people with knowledge of the matter. The company will reduce executive pay by 10 percent until December and will delay paying salaries for six months, according to the people, who ask not to be identified because the information isn’t public. It’s also delaying half or all salaries and bonuses to non-executive employees for up to six months, as well as cutting spending 20 percent to 24 billion yuan ($3.7 billion), the people said. The crash in oil prices has punished producers from Beijing to London to Houston, forcing companies to slash spending, scale back exploration, write down assets and layoff workers. Brent crude, the global benchmark, has lost more than 60 percent in the past two years. Shaanxi Yanchang Petroleum had 115,600 employees at the end of 2014, […]