On September 3, Sinopec Oilfield Service Corporation Chairman Wu Bozhi resigned from all positions, ending his term nine months early. On September 4, Li Ying, former Deputy General Manager and Chief Accountant of Sinopec Marketing Co., Ltd. Shanghai Petroleum Branch, was reported to be under investigation for disciplinary and legal violations. Two core enterprises within the Sinopec system experienced a leadership departure and a senior executive investigation within 24 hours.
Sinopec Oilfield Service reported revenue of 37.664 billion yuan in the first half of 2026. The company undertakes core construction tasks for national-level projects including domestic shale oil development and increasing production in northwestern oil and gas fields. Wu Bozhi joined Shengli Petroleum Administration in 1993, became Chairman of Sinopec Oilfield Service in June 2024, and concurrently served as Deputy Chief Engineer of Sinopec Group starting December 2025.
The term ended nine months early, with the company's announcement attributing the departure to "job adjustment." Sinopec Oilfield Service's announcement also confirmed that Wu Bozhi "has completed handover procedures in accordance with relevant company regulations, and his departure will not affect the company's normal operations." For a listed company with annual revenue exceeding 37 billion yuan, whether the departure of its top leader mid-term will affect the pace of major engineering decisions and equipment procurement plans depends on the speed of succession and the quality of the transition.
Li Ying's position structure combines three roles: Party Committee Member, Deputy General Manager, and Chief Accountant. The Central Commission for Discipline Inspection and State Supervision Commission website reported that she is "suspected of serious violations of discipline and law" and is currently under investigation. Shanghai Petroleum Branch covers the core Yangtze River Delta market, with annual refined oil sales exceeding one million tons and a terminal network of over one thousand gas stations. Sinopec's byproducts including sulfur, petroleum coke, and naphtha flow to the national market through its marketing companies, with each category generating billions to tens of billions of yuan in annual transaction value. In this segment, pricing power, customer allocation rights, and settlement cycle decisions are concentrated in the hands of the marketing company management.
The specific destination of Wu Bozhi's departure and the specific details of Li Ying's case have not yet been disclosed. Two personnel developments triggered within 24 hours, landing on Sinopec's two core segments—one in upstream engineering services, one in downstream marketing—warranting attention to subsequent changes.
