PetroChina MD named SPC chairman

Chinese oil giant PetroChina has installed a new chairman at Singapore Petroleum Co. (SPC) and is merging SPC’s oil trading operations with that of PetroChina Singapore. SPC’s new chairman is Xia Hong Wei, the managing director of PetroChina Singapore, with another PetroChina Singapore official, Adam Xiong, also coming on board as SPC director. The board changes at SPC follow PetroChina’s US$3.2 billion acquisition of SPC. (November 5, 2009)