Former CNOOC Executive Yuan Guangyu Sentenced to Suspended Death for Bribery

A former executive of China National Offshore Oil Corp. (CNOOC) has been sentenced to death with a two-year reprieve for accepting bribes exceeding 152 million yuan ($22 million). Yuan Guangyu, who previously served as deputy general manager, was found guilty by a court in Xuzhou, Jiangsu province.

The court ordered the confiscation of all of Yuan's personal assets and stripped him of his political rights for life. Investigations revealed that from 2001 to 2022, Yuan exploited his positions within the state-owned energy giant to seek benefits for individuals and organizations in areas such as project contracting, business operations, and job adjustments, accepting bribes in return.

The court deemed Yuan's conduct as bribery, warranting a death sentence due to the "particularly large" sum involved and the "extremely huge" losses caused to the nation's interests. However, leniency was applied because Yuan confessed to the charges, voluntarily reported some previously undiscovered offenses, and actively returned his illegal proceeds. In China, a suspended death sentence is typically commuted to life imprisonment if the individual commits no new crimes during the two-year probation period, with potential for further reduction for good behavior.

Yuan, 67, had a long career in the offshore oil sector, becoming deputy general manager of CNOOC in August 2016 before retiring from public office in 2019. He was placed under investigation in March 2025, expelled from the Communist Party of China four months later, and prosecuted for suspected bribery. His case was publicly heard on March 19, with national lawmakers and political advisers in attendance.