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 oil and gas supply and infrastructure projects in China.

Fortune Oil was listed on the London Stock Exchange (Main Market) from 1993 to March 2015. It is a well-respected company and maintains a good reputation and a 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 23 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 27 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 the north.

Invested in and launched China’s first shore-based LNG ship refuelling terminal on the Yangtze River in Chongqing and reconstructed the first 3000-tonne dual fuel cargo vessel (CSC Chang Xun Ⅲ). The ship received the first dual-fuel vessel seaworthiness certificate from China’s Ministry of Transport, opening a new market for China’s LNG fuelled ships.

Company's Investments in China

After more than 20 years of successful operations, Fortune Oil has an important role in China’s petroleum and natural gas industry and laid 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 RMB42.6 billion (approximately US$6.6 billion) in China.

Our Strategic Partnerships


In order to seize business opportunities brought by a growing demand for natural gas and clean energy in China, and to expand the scale of development, 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 suppply and service providers in China, and became one of CGH’s major shareholders (as of the end of March 2018, Fortune Oil, together with connected persons, held 19.6% of CGH). Such strategic action has enabled Fortune Oil to enter into the vast downstream and end-user markets of China’s natural gas sector. Building upon Fortune Oil’s and its shareholders’ advantage in the international market, we have strengthened CGH’s liquefied petroleum gas (“LPG”) and LNG supply systems, maximising the synergy and complementary strengths of the two companies and enhanced Fortune Oil’s participation in the construction and investment of China’s 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 will continue to leverage 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. CGH, with Fortune Oil as one of its major shareholders, will also ensure the long-term and stable development of China’s LPG and LNG markets.

Our Competitive Advantages

The strength of Fortune Oil lies not only in China, but also in the Middle East where Fortune Oil’s affiliated parties have over 30 years of experience and established an extensive network with key government agencies and national oil and gas companies. Fortune Oil is therefore well-positioned to further enhance its supply and trading activities of oil products, LPG and LNG from the Middle East to Fortune Oil’s customers in China.

China is the world’s largest growth market for natural gas and clean energy. Recent policies of the Chinese government including industry restructuring, upgrading the energy mix, the ”Belt and Road” initiative, the Asian Infrastructure Investment Bank(“AIIB”) and the “Investing Outward Policy” have provided vast opportunities for Fortune Oil’s development strategy, i.e. to capitalise on China’s growing energy demand, and further develop long-term, stable and competitive energy supply from overseas. Looking ahead, Fortune Oil will, by building on existing resources and advantages in national and international markets, continue to strengthen its position in China’s energy development.

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 2307, 23/F
Office Tower, Convention Plaza
1 Harbour Road
Wanchai, Hong Kong
Tel: (+852) 2802 8300
Fax: (+852) 2802 8322

United Kingdom

Fortune Oil Limited
6/F, Belgrave House,
76 Buckingham Palace Road
London SW1W 9TQ, United Kingdom
Tel: (+44) 20 7312 4436
Fax: (+44) 20 7824 8239
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