CONTENT = """
<process id="process1">
 <log name="name1" device="device1"><![CDATA[timestamp value]]></log>
 <log name="name2" device="device2"><![CDATA[timestamp value, timestamp value, timestamp]]></log>
</process>
"""

def parse_with_lxml():
    root = etree.fromstring(CONTENT)
for log in root.xpath('//log'):
    print(log.text)

def parse_with_stdlib():
    root = ElementTree.fromstring(CONTENT)
for log in root.iter('log'):
    print(log.text)
if __name__ == '__main__':
    parse_with_lxml()
parse_with_stdlib()
Разбор CDATA в xml с помощью python