An executive at Chinese petroleum giant Sinopec has been demoted after it was discovered he spent millions on alcohol – including the finest cru classe Bordeaux. Lu Guangyu, the general manager of operations in Guangdong for state oil giant Sinopec spent some 1.6 million yuan (US$245,000) of company money buying bottles of 1996 Chateau Lafite-Rothschild as well as an expensive Chinese liquor called Moutai.