Former CNOOC senior executive sentenced to 14 years in prison over corruption, state media says

Former deputy Party secretary and general manager of China National Offshore Oil Corporation (0883), Li Yong, was sentenced to 14 years in prison for corruption, state media CCTV reported on Tuesday.

Li, born in August 1963, retired in December 2023 after reaching the mandatory retirement age, and was found to have illegally accepted property worth more than 67.94 million yuan, either directly or through others.

His illegal gains and related proceeds were confiscated and turned over to the state treasury.

Another retired senior executive at CNOOC, Guangyu Yuan, was expelled from the Communist Party and placed under investigation for serious violations of Party discipline and the law, the Central Commission for Discipline Inspection announced on July 31.

Reuters