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Reuters
06-08-2025
- Politics
- Reuters
Former CNOOC executive expelled from Chinese Communist Party, watchdog says
July 31 (Reuters) - A senior former executive at state-owned oil and gas major CNOOC Ltd has been expelled from the Communist Party and placed under investigation for serious violations of party discipline and the law, the Central Commission for Discipline Inspection on Wednesday. Guangyu Yuan, 66, retired as chief executive of CNOOC in September 2019 after reaching the mandatory retirement age, and was also a former deputy general manager of CNOOC parent, China National Offshore Oil Company. He was placed under disciplinary review and supervisory investigation by the country's top anti-corruption watchdog in March, the CCDI said in a statement. The CCDI said Yuan had "lost his faith and convictions" and abused his position for illicit gains, including trading power for money and sex. Yuan had accepted golf outings that may have compromised his duties, and engaged in profit-making activities related to his former role after retirement, "making a living off the oil sector after serving in it." CNOOC did not immediately respond to a request for comment. Yuan was not immediately available for comment.
Reuters
05-08-2025
- Reuters
Former CNOOC executive sentenced to 14 years for corruption, Chinese state media reports
Aug 5 (Reuters) - Former deputy Party secretary and general manager of China National Offshore Oil Corporation, Li Yong, was sentenced on Tuesday to 14 years in prison for corruption, state media CCTV reported. Li, who retired in December 2023, and was found to have illegally accepted property worth more than 67.94 million yuan ($9.45 million), either directly or through others, according to the report. 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. ($1 = 7.1864 Chinese yuan renminbi)
