After being disgraced for six months, Li Yong, former General Manager of China National Offshore Oil Corporation (CNOOC), has been approved for arrest. Half a month ago, he was expelled from the Communist Party and referred to judicial authorities.
On September 27, the Supreme People’s Procuratorate of the Chinese Communist Party reported that Li Yong, former Deputy Secretary of the Party Committee, Director, and General Manager of CNOOC, is suspected of bribery. The investigation by the National Supervisory Commission has concluded, and the case has been forwarded to the procuratorate for review and prosecution. Recently, the Supreme People’s Procuratorate decided to arrest Li Yong on suspicion of bribery. The case is currently under further investigation.
In December of last year, CNOOC announced Li Yong’s retirement. On March 15 of this year, Li Yong was officially ousted from his position; and on September 11, the Central Commission for Discipline Inspection and National Supervisory Commission of the Communist Party of China website announced that Li Yong had been stripped of party membership and referred to judicial authorities.
The report stated that Li Yong resisted organizational review, irregularly promoted and transferred officials; accepted bribes and engaged in corrupt practices; shamelessly abused power for personal gain, colluding with unscrupulous businessmen for power and monetary transactions both domestically and internationally. He used his position to profit others in business agency, product sales, job promotion, and received substantial amounts of money.
Public information shows that Li Yong, who is 61 years old, has worked at CNOOC for a long time. Starting in 2003, Li Yong gradually transitioned to management positions, serving as Deputy General Manager of CNOOC (China) Co., Ltd. Tianjin Branch, Executive Vice President, Chief Executive Officer, and President of CNOOC Oilfield Services Co., Ltd., among others.
In March 2017, Li Yong left the CNOOC system where he had worked for nearly 33 years (in November 2017, China National Offshore Oil Corporation was renamed CNOOC Limited), and was transferred to Sinopec as Deputy General Manager.
In September 2020, Li Yong returned to CNOOC, serving as Vice Chairman of the Board, General Manager, Non-Executive Director, and member of the Compensation Committee. He retired in December 2023, and three months after retirement, he was officially disgraced.
CNOOC is a listed company under China National Offshore Oil Corporation. CNOOC is a large-scale central enterprise and China’s largest offshore oil and gas production operator with over 80,000 employees and total assets exceeding trillions.