CNPC to sell off hotels and company cars after graft inspection

China National Petroleum Corporation (CNPC) has announced it will sell most of its hotels by the end of 2017 and get rid of 4,300 company cars as part of a drive to end corruption and waste at the state-owned energy conglomerate, Reuters reported, citing a statement released by the Communist Party’s Central Commission for Discipline Inspection after its latest inspection. In a separate statement released on Sunday, China National Offshore Oil Corp – better known as CNOOC – listed the steps it was taking to address the problems the commission’s inspectors had found at the firm, including promising not to use company money to buy high-end cigarettes and liquor.