Chinese state oil major Sinopec has suspended the two top officials at its trading arm Unipec after the company suffered losses, sources with knowledge of the matter said on Thursday. Unipec’s President Chen Bo, an industry veteran who helped the company become one of the world’s largest oil traders, has been suspended along with the senior Communist Party representative at the company, Zhan Qi, said five sources, who asked not to be identified due to the sensitivity of the issue. “The government inspectors were looking into the company’s operations for the past few years … one of the problems they found was the severe trading losses in the second half of this year because of wrong market judgment,” one of the sources said. The […]