Former Deputy General Manager Yuan Guangyu of China National Offshore Oil Corporation was sentenced to death with a two-year reprieve for accepting bribes exceeding 1.52 billion yuan. In early March last year, Yuan Guangyu was officially investigated after retiring for 5 years and 5 months.
On June 17th, the Intermediate People’s Court of Xuzhou City, Jiangsu Province publicly announced the first-instance verdict of the bribery case involving Yuan Guangyu, former member of the Communist Party Committee and Deputy General Manager of China National Offshore Oil Corporation. Yuan Guangyu was convicted of bribery and sentenced to death with a two-year reprieve.
According to the court, from 2001 to 2022, Yuan Guangyu took advantage of his various positions, including General Manager of CNOOC Northern Drilling Company, General Manager and President of CNOOC Field Service Co., Ltd., General Manager of CNOOC (China) Co., Ltd. Tianjin Branch, Director of CNOOC Bohai Oil Management Bureau, Executive Vice President and President of China National Offshore Oil Corporation, Member of the Party Committee and Deputy General Manager of CNOOC, to provide assistance to relevant units and individuals in project contracting, corporate operations, and job adjustments, directly or through others, by illegally accepting a total of more than 152 million yuan.
On March 1, 2025, Yuan Guangyu was officially investigated. On July 31, it was officially announced that Yuan Guangyu was expelled from the Party, had his benefits revoked, and was transferred to judicial authorities. The first-instance trial of the case was held on March 19, 2026.
Public records show that Yuan Guangyu was born in 1959. In 1982, he joined CNOOC and held positions such as Deputy Manager of Bohai Oil Drilling Company, Deputy General Manager of CNOOC Northern Drilling Company, Deputy Manager of Operations Department of China National Offshore Oil Corporation, General Manager and Party Committee Secretary of CNOOC Northern Drilling Company.
In November 2006, Yuan Guangyu was promoted to Assistant General Manager of China National Offshore Oil Corporation, and in February 2009, he became Executive Vice President. In April 2013, Yuan Guangyu concurrently served as Director of CNOOC Bohai Oil Management Bureau, Deputy Party Secretary, Party Secretary, General Manager, and Party Committee Secretary of CNOOC (China) Co., Ltd. Tianjin Branch.
In June 2016, Yuan Guangyu was appointed President of China National Offshore Oil Corporation, and the following month, he became Deputy General Manager and Member of the Party Committee of CNOOC. In September 2019, he retired upon reaching the retirement age.