About Us

Company Profile

Fortune Oil Limited (‘Fortune Oil’) is an independent energy company headquartered in Hong Kong. The company focuses on investments and operations in People's Republic of China ("China").

Fortune Oil was listed on the London Stock Exchange (Main Board) from 1993 to March 2015 and is a well-respected company and maintains a good reputation and high standard of corporate governance.

Remarkable Achievements


Fortune Oil started its operation in China in the early 1990s and was amongst the first foreign companies to invest in China’s energy market. Under the backdrop of China’s economic reform and development, Fortune Oil worked closely with PetroChina, Sinopec and China National Aviation Fuels (“CNAF”) to deliver a number of unique national and regional energy infrastructure projects, leveraging on its strong partnerships both internationally and within China, as well as strong leadership by an experienced management team.

Many of these notable achievements were the first of their kind in China’s energy market, including:

China’s first single point mooring buoy system with capacity of 300,000 tonnes. The facility supplies crude oil to the largest refinery in southern China (Sinopec’s Maoming Refinery) and has maintained world-class standard of operation for 26 consecutive years with an accident-free and spill-free record;

The first State Council approved cross-region aviation fuel Sino-foreign joint venture serving China’s civil aviation industry. The joint venture provides aviation fuel storage and refuelling services at 32 airports across five provinces in central and southern China;

The first oil products terminal and tank storage facilities in southern China, developed with PetroChina. It is PetroChina’s major transit hub of oil products from northern China to PetroChina’s retail fuels market in southern China;

The construction and the marine worthiness certification of the first 3000-tonne dual fuel cargo vessel (CSC Chang Xun Ⅲ), together with the completion of China’s first shore-based LNG ship refuelling terminal on the Yangtze River in Chongqing heralded a new era for China’s Liquefied Natural Gas “LNG” fueled ships. This project was selected by China’s Ministry of Transport as a pilot demonstration project for marine LNG shipping and refueling, and became the design specification standard foundation for China’s shore-based LNG ship refuelling industry. After 10 years of strong commitment and hard work, the project has successfully demonstrated the commercial operation of LNG refuelling for natural-gas-powered ships and completed the maiden voyage test of natural-gas-powered ships. This included the vessel safely passing through the locks of the Three Gorges Dam, enabling the industry to implement the national environmental protection strategies of the "Gasification of the Yangtze River", and "Clear Water and Green Mountains".

Company's Investments in China

After more than 20 years of successful operations, Fortune Oil continues to play an important role in China’s petroleum and natural gas industry and has established a solid foundation for the company’s sustainable development in China’s energy market. At present, Fortune Oil, together with its joint ventures and associate companies, have invested RMB106.5 billion (approximately US$15.8 billion) in China.

Our Strategic Partnerships


In response to the strong growth in China's demand for natural gas and clean energy, in 2013 Fortune Oil completed the sale of its natural gas business to China Gas Holdings Limited (“CGH”), one of the largest cross-regional integrated gas supply and service providers in China. This enabled Fortune Oil to become one of CGH’s major shareholders (as of the end of July 2020, Fortune Oil, together with connected persons, held 18.9% of CGH). This strategic move has opened a new platform for Fortune Oil to invest in China's natural gas and clean energy market.

In early 2015, in view of changes in the international capital market, Fortune Oil delisted from the London Stock Exchange and became a private company. Renowned Hong Kong entrepreneur Mr. Daniel Tatjung Chiu holds 70% of Fortune Oil through a private company and Vitol, the world’s largest independent energy and commodities trader, owns 30%. Ever since the establishment of Fortune Oil, Vitol has been one of its most important shareholders and strategic partners. Fortune Oil has leveraged on this solid strategic partnership, utilising the national and international resources and competitive edges of both parties to deepen and expand investment and trading activities in China’s energy market.

Our Competitive Advantages

The strength of Fortune Oil lies not only in China, but also in the Middle East where Fortune's shareholders have over 30 years of experience and strong networks to enable Fortune Oil to access resources for its’ China market development and supply. The huge development potential of China's clean energy market and the Chinese government's continuous deepening and improving environmental protection strategies, policies and measures have provided vast opportunities for Fortune Oil’s development strategy, i.e. to capitalise on China’s growing cleaner energy demand, and further develop long-term, stable and competitive energy supply from overseas.

The development of Guangdong-Hong Kong-Macao Greater Bay Area is a major national development strategy. As an independent energy company headquartered in Hong Kong and businesses rooted in the mainland, Fortune Oil will, by building on existing resources and advantages in national and international markets, and working together with our partners, actively participate in the development and construction of the Greater Bay Area and make greater contributions to the overall development of clean energy in the Greater Bay Area and the country as a whole.

Core Businesses
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Investment in clean energy infrastructure

Jet Fuel infrastructure operation, fuel supply and refuelling business

Offshore crude oil terminal – Maoming SPM (Single Point Mooring)

Oil products and liquefied petrochemical products storage

International trading

Offices

Hong Kong

Fortune Oil Holdings Limited
Fortune Oil PRC Holdings Limited
Suite 3507, 35/F
Office Tower, Convention Plaza
1 Harbour Road
Wanchai, Hong Kong
Tel: (+852) 2802 8300
Fax: (+852) 2802 8322

United Kingdom

Fortune Oil Limited
Nova South, 4th Floor,
160 Victoria Street,
London SW1E 5LB, United Kingdom
Tel: (+44) 20 7973 4200
Official website: www.fortune-oil.com
Official email address: info@fortuneoil.co.uk

Beijing

Beijing Fu Cheng Import & Export Trading Co Ltd
Room 1205, No 1 Building
8 Bei Chen Dong Road
Chaoyang District, Beijing, 100101, P.R. China
Tel: (86-10) 8498 1286
Fax: (86-10) 8499 2650

Guangzhou

Guangzhou Fortune Oil Company Limited
Suite 810, Jietai Plaza
No. 218 Zhongshan Liu Road,Yuexiu District
Guangzhou 510180, P.R. China
Tel: (86-20) 8132 0022
Fax: (86-20) 8132 0021