Former CNOOC Executive Yuan Guangyu Sentenced for Bribery

Yuan Guangyu, former chief executive of CNOOC Limited and China Oilfield Services Ltd (COSL), has been sentenced to death with a two-year reprieve by the Xuzhou Intermediate People’s Court in Jiangsu province for taking bribes. The court also deprived him of political rights for life and ordered the confiscation of all his personal assets. Any recovered illicit gains, along with accrued interest or proceeds, will be confiscated and turned over to the state treasury.

Details of the Bribery Case

Yuan was indicted on bribery charges in December 2023, accused of exploiting his high-ranking positions at several China National Offshore Oil Corporation (CNOOC) subsidiaries to secure benefits for related entities and individuals, and illegally accepting bribes of "particularly large amounts." In March 2025, China’s Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission announced he was under disciplinary review and supervisory investigation for alleged serious violations. He was expelled from the Communist Party in July of the same year.

Scope and Amount of Bribery

Between 2001 and 2022, Yuan used his senior positions to assist entities and individuals in matters involving project contracting, business operations, and job adjustments. He illegally accepted money and valuables worth more than 152 million yuan ($22.43 million), either directly or through others. The high-level positions he exploited included general manager of CNOOC Northern Drilling Company, general manager and president of COSL, general manager of CNOOC Tianjin Branch, director of the CNOOC Bohai Petroleum Administration Bureau, executive vice president and president of CNOOC Ltd, and deputy general manager of CNOOC.

Court Ruling and Leniency Factors

Yuan pleaded guilty and showed remorse during the trial. The court found his conduct constituted the crime of taking bribes, with the amount being "exceptionally huge," causing a "particularly major loss" to the interests of the state and the people. While the court stated his offenses warranted the death penalty, it cited his truthful confession, voluntary disclosure of crimes not yet uncovered by investigators, and return of illicit gains as grounds for leniency. Consequently, Yuan was sentenced to death with a two-year reprieve, ruling that immediate execution was not necessary. Under China's legal system, such a sentence may be commuted to life imprisonment if no crimes are committed during the reprieve period.

Background of Yuan Guangyu

Born in 1959, Yuan spent nearly four decades at CNOOC and its subsidiaries. In 2001, he became chairman and chief executive of COSL, overseeing its restructuring and its 2002 listing on the Hong Kong Stock Exchange, making it China’s first internationally listed oilfield services company. He later rose through the ranks at CNOOC Ltd and CNOOC, retiring in 2019 at age 60 as chief executive of CNOOC Ltd.