The Company Lost &Nbsp In The First Instance, And Nearly 100 Million Yuan In Oil Or Difficult To Recover.

For nearly 3 years, a case involving nearly 100 million yuan involved in the strange dispute between China Petroleum and Sichuan Shengda (000835, stock bar) industrial Limited by Share Ltd (000835, SZ, hereinafter referred to as Sichuan Shengda) finally got a preliminary result.

Reporter from

CNPC said it would appeal.

It goes back to 7 years ago.

In December 2004, Shengda coking began to purchase No. 0 diesel from PetroChina Leshan branch for production and pportation.

In March 2005, Wan Yongyi, a member of China Petroleum Leshan branch, commissioned by Shengda Coking Co., Ltd., as a liaison person for the purchase of diesel oil No. 0, was responsible for negotiations on oil related businesses such as settlement, payment and ticket making.

It is wan Yong Yi who caused the two enterprises to end up in court.

According to Sichuan Shengda's public announcement, in August 2006, Wan Yong Yi was arrested, due to February 2008 contract.

PetroChina Leshan branch said that during the period from February 2005 to October 2006, the company delivered about 22 thousand and 500 tons of oil to Santa Fe, worth hundreds of millions of yuan.

During this period, Shengda coking company still owed about 94 million 72 thousand and 800 yuan to PetroChina Leshan branch.

In November 3, 2008, Shengda coking received the notice and complaint of the Leshan intermediate people's Court on PetroChina Leshan branch, which required the company to pay the plaintiff 94 million 72 thousand and 800 yuan for the purchase of oil.

Sichuan Shengda believes that the case is wan Yong Yi's ultra vires right away from its PetroChina Leshan branch to carry about 94 million 72 thousand and 800 yuan worth of oil, which has nothing to do with Shengda coking.

"The focus is on the issue of empowerment," Wan Yongyi, a deputy chief of PetroChina Leshan branch, told the daily economic news yesterday. Precisely because the authorization of their company (Shengda coking) has caused huge losses to our company.

We have the power of attorney in our hands, and their authorized representatives have exercised the right to authorize them. "

The deputy general also said that it is still only the first instance and has not yet been appealed. The company will appeal and everything will be final.

Sichuan Shengda: there is no payables.

"From the first half of March 2005 to the first half of 2006, Wan Yong Yi exceeded his power from the PetroChina Leshan branch of his company for about $94 million 72 thousand and 800 worth of oil, and now the whereabouts of the oil are unknown."

Sichuan Shengda said in a notice issued yesterday that since March 2005, Shengda coking company has maintained normal relations with the PetroChina Leshan branch for sale and settlement. During this period, the accounts of Shengda coking oil purchase and payment and settlement account for normal state. There is no such huge sum of money payable. And so far, PetroChina Leshan branch has never mentioned to the Shengda coking company about the existence of the sum of money raised by Wan Yong Yi's ultra vires.

Ms. Wan Yongyi, a representative of Sichuan Shengda securities affairs, told reporters that the reason why he wanted to authorize the company was mainly to facilitate the purchase of oil.

Xie Shujiang, the company's chief financial officer, deputy general manager and deputy director general, also told reporters that Wan Yongyi's unlimited expansion of the authority led to the incident.

"We use very little oil, and about 200 tons a month, so it is impossible to buy 10000 tons of oil at a time."

Xie Shujiang said, "we don't know where the oil has gone."

According to public information, Wan Yong Yi used to be an ordinary employee of PetroChina Leshan branch, with only a college diploma, but it involved multiple fraud cases and forged corporate seals for several illegal activities.