Sinopec Oilfield Service president Xue Wandong has reportedly been fired and placed under investigation for undisclosed reasons.
State officials removed Xue from his post Wednesday, state owned news agency Xinhua said.
Details about the investigation haven’t been released.
China’s corruption watchdog the Central Commission for Discipline Inspection (CCDI) started a probe last month into various state owned companies including Sinopec, Reuters said.
The probe is expected to take about a month and will focus on leaders in state owned companies and government bodies.
Fighting corruption has been a central theme of president Xi Jinping’s tenure.
Xi said earlier this year that widespread corruption is a threat to the Communist Party’s survival.
Last month, Chinese officials announced that former domestic security chief Zhou Yongkang is being investigated for “serious disciplinary violations.”
Zhou is the former head of China National Petroleum Corporation.
Sinopec Oilfield Service, a subsidiary of state owned Sinopec, is reportedly planning a $1.5 billion initial public offering in Hong Kong.