Anti-graft drive to clean up oil industry

The anti-corruption drive, which has brought down many senior executives at the State-owned oil giants, has combined with plunging crude prices to darken the outlook for China's petroleum industry.

But the result could be a more efficient industry with a disciplined and transparent system, analysts said.

At least 45 middle- and high-ranking executives from China National Petroleum Corp, the nation's top oil and gas producer, and its subsidiaries are being investigated for corruption allegations.