BEIJING – Li Yong, former general manager of China National Offshore Oil Corporation (CNOOC), has been expelled from the Communist Party of China (CPC) due to serious violations of discipline and laws, according to an official statement issued Wednesday.

The decision was made following an investigation by the CPC Central Commission for Discipline Inspection (CCDI) and the National Commission of Supervision (NCS) upon the approval of the CPC Central Committee, according to the statement by the CCDI and NCS.

Li, who was formerly also a deputy secretary of CNOOC’s leading Party members group, has lost his ideals and convictions and refused to cooperate with the investigation against him, the statement said. The investigation found that Li had illegally promoted officials and engaged in exchanges of money and sexual favors, according to the statement.

It accused Li of showing “no regard for discipline or law” and illicitly using his influence in the oil industry. It added that he had long colluded with unscrupulous businessmen, traded power for money, and taken advantage of his positions to benefit others in issues such as product sales and job promotions and accepted large sums of money and valuables in return.

Li had committed severe duty-related violations and is suspected of the crime of accepting bribes, according to the statement. His illicit gains will be confiscated, and the case will be transferred to procuratorial authorities for examination and prosecution in accordance with the law, the statement added. (Xinhua)

Photo: Logo of CNOOC. (Asian Power) …[+]