Shang Hai Zheng Quan Bao·2025-08-05 09:57Core Points - The case involves Li Yong, former Deputy Secretary of the Party Committee and General Manager of China National Offshore Oil Corporation (CNOOC), who was sentenced to 14 years in prison for accepting bribes totaling over 67.94 million yuan [1] - The court found that from 1996 to 2023, Li Yong used his positions within CNOOC to provide assistance to certain enterprises and individuals in business agency and product sales, in exchange for illegal financial benefits [1] - The court acknowledged Li Yong's cooperation during the investigation, including confessing to his crimes and revealing additional bribery facts, which contributed to a lighter sentence [1] Company and Industry Summary - Li Yong held multiple significant positions within CNOOC, including Director of the Exploration Department, General Manager of the Tianjin Branch, and CEO of CNOOC Services, indicating a high level of influence within the company [1] - The case highlights issues of corruption within state-owned enterprises in China, particularly in the oil and gas sector, which may impact investor confidence and regulatory scrutiny [1] - The court's decision to impose a fine of 3 million yuan in addition to the prison sentence reflects the government's stance on combating corruption in the industry [1]