• Fortune Oil Sent Representatives to Convey Greetings and Appreciation
    to Bluesky Frontline Employees

    On 6 and 7 February 2018, entrusted by Mme. Li Ching, Executive Director of Fortune Oil Limited and Vice Chairman of South China Bluesky Aviation Oil Company Limited (“Bluesky”) , and accompanied by Mr. Gao Yimin, Director of Bluesky and General Manager of Fortune Oil Limited Project & Investment, Ms. Lv Xiaochun, Deputy General Manager of Guangzhou Fortune Oil Company Limited visited Bluesky Hubei Enshi Station and Bluesky Changsha Yi Jia Wan oil discharging Stations, conveying appreciations and New Year greetings from the management team to the frontline employees.

    Enshi airport is an important gateway to western Hubei Province with nearly 400 flights every year. Changsha airport is a fast-growing hub airport with both passenger and freight transportation serving China’s central region. While conveying the management team’s holiday greetings, distributing of New Year red envelopes, Ms. Lv and Mr. Gao also had friendly discussions with the frontline employees, jointly aiming to enhance the environment where employees enjoy their work and company business continues to grow successfully.

  • Fortune Oil Limited and Jiangnan Shipyard (Group) Co., Ltd. Signed Building Contract for Two 84,000 Cubic Metre Very Large Gas Carriers (“VLGC”).

    Fortune Oil Limited (via China Gas Fortune Marine Transportation Limited) and Jiangnan Shipyard (Group) Co., Ltd. held a ceremony in Shanghai on 3 January 2018, to sign a building contract for two 84,000 cubic metre Very Large Gas Carriers (“VLGC”). China Gas Fortune Marine transportation Limited is a newly established company jointly owned by China Gas Group Limited and China Gas Holdings Limited (“CGH”,HKEX:384 ).

    Attending and witnessing the ceremony were Fortune Oil Limited Executive Director Mme. Li Ching, General Manager of China Gas Holdings Limited's LPG Unit Mr.Song Huabin, Chairman of CSSC (Hong Kong) Shipping Company Limited Mr. Yangli, Chief COO of Wah Kwong Maritime Transport Holdings Limited Mr. Zhou Jianfeng, General Manager of China Gas Fortune Marine Transportation Limited Mr. Ye Qing and other representatives.

    China Gas Fortune Marine Transportation Limited operations are focused on liquefied petroleum gas (“LPG”) transportation management and associated businesses.

    Affiliated to China State Shipbuilding Corporation limited, Jiangnan Shipyard (Group) Co., Ltd is one of the largest and most advanced modern shipbuilding bases with the most production varieties in China. The two 84,000 cubic metre VLGCs fall within the 2nd generation VLGC (Panda 84P), which is self-designed by Jiangnan Shipyard (Group) Co., Ltd., and fulfills the latest international standards including IMO Tier III control and IGC Code standard.

    The signing ceremony opened a new page for Fortune Oil as it enters the global LPG marine transportation market. This reflects the company’s diversified development strategy, and is of great significance to the company’s international presence and long-term profitability.

  • Fortune Oil Limited Group Performance for the Six Months
    Ended 30 September 2017(“H1 FY2018”)

    Our goal is to find attractive value enhancing investment opportunities and to manage the investments made to extract value for our shareholders. We work with our investee companies’ management to improve their competitive financial performance and increase the value to our shareholders.

    • Group revenues including share of jointly controlled entities and associates increased by 28.9 per cent to £624.0 million (H1 FY2017: £484.2 million) mainly as a result in the increase in revenue in China Gas Holdings Limited and aviation refuelling.
    • Net profit attributed to the owners of the parent increased 78.5 per cent to £33.8 million (H1 FY2017: £19.0 million).
    Oil Business

    Aviation refuelling

    • Revenue increased 35.7 per cent to £1,148.2 million (¥10,102.5 million) (H1 FY2017: £846.0 million (¥7,633.7 million)).
    • Sales volumes increased 13.3 per cent to 2.6 million tonnes compared to 2.3 million tonnes for the same period in the previous year, driven by the continued increase in domestic and international air travel demand.


    • Revenue decreased 19.9 per cent to £5.5 million (¥48.6 million) (H1 FY2017: £6.9 million (¥62.2 million)).
    • SPM has constructed a second sub-sea pipeline, alongside the existing pipeline and this new pipeline came into operation in May 2017. The new pipeline is 48 inches in diameter compared to the original pipeline which was 34 inches in diameter and will enable crude oil imports to be increased significantly via the SPM.

    West Zhuhai Jetty and Storage Terminal

    • Revenue decreased 11.2 per cent to £4.3 million (¥37.4 million) (H1 FY2017: £4.8 million (¥43.2 million)).
    • Throughput and storage volumes decreased 14.7 per cent to 1.4 million tonnes compared to 1.6 million tonnes for the same period in the previous year.
    Trading Business
    • Revenue decreased 27.4 per cent to £92.2 million (¥811.5 million) (H1 FY2017: £127.1 million (¥1,146.4 million)).
    • Trading volumes increased 155.2 per cent to 0.3 million tonnes compared to the same period in the previous year (H1 FY2017: 0.1 million tonnes).
    China Gas Holdings Limited (“CGH”)
    • CGH revenues increased by 58.4 per cent to HK$20.9 billion (£2.1 billion) (H1 FY2017: HK$13.2 billion (£1.2 billion))
    • During H1 FY2018, CGH secured 12 additional city gas concessions bringing the total to 342 cities.
    • During H1 FY2018, CGH sold a total of 8.2 billion cubic metres of natural gas, an increase of 74.3 per cent over the same period of the previous year (H1 FY2017: 4.8 billion cubic metres).
    • During FY2017, CGH added 1,109 industrial customers, 13,454 commercial customers and completed connections to an additional 2.1 million residential households.

  • Maoming SPM (Single Point Mooring) Achieved 200 Million Tonnes Crude Oil Handling Record

    On December 6, 2017, with VLCC Challenger’s delivery of 131 thousand tonnes of Oman crude oil to Sinopec Maoming refinery, Maoming SPM has achieved 200M tonnes crude oil handling record.

    Showing a great foresight of the leadership of Fortune Oil and Sinopec, China's first single mooring facility - Maoming SPM was established in the early 1990s, for 23 consecutive years since the first VLCC Jerom was handled on November 11, 1994, Maoming SPM wrote numerous outstanding records. With the Asia’s largest sub-sea crude oil pipeline of 1219mm in diameter, the SPM facility has handled 1044 vessels with 78 types of crude oil from 57 countries, and remained an accident-free and spill-free record.

  • Fortune Oil Delegation met with leaders of China National Aviation Fuel Group Corporation (CNAF Group)

    A senior management delegation led by Mr. Daniel Tatjung CHIU, Chairman of Fortune Oil Limited, met with CNAF Group Chairman Mr. Zhou Qiang and other related leaders on June 8, 2017 in Beijing. The two sides reviewed the 20 years development of South China Bluesky Aviation Oil Company Limited (“Bluesky”) and exchanged views on future cooperation. Mr. Zhou Qiang praised the long-term positive cooperation between the two sides and the joint venture’s successful development. Mr. Zhou Qiang highlighted that the two companies should make greater use of their respective strengths to seek cooperative opportunities in airport construction and other related developments in counties along “the Belt and Road” initiative, and hoped that Fortune Oil would continue to provide strong support to Bluesky, and further expand its cooperation and exchanges on the basis of the Joint venture’s existing healthy and sustainable development.

    Also attending the meeting were Fortune Oil Executive Director Mme. Li Ching, Technical and Business Development Director Mr. Michael Jones, General Manager of Project & Investment Mr. Gao Yimin, Deputy General Manager of Bluesky Mr. Zhang Haiqun, CNAF Chief Financial Officer Mme. Bao Xiaoyan, General Manager of CNAF Group International Business Department Mr. Feng Hai, and Chairman of Bluesky Mr. Wang Yanjun.

  • Maoming single point mooring (“SPM”) completed the largest scale upgrading since 22 years safe operation

    Maoming New King Ming Petroleum Co., Ltd. (“NKM”) started construction of the second sub-sea pipeline in July 2016. The 15.49 km long, 48-inches diameter sub-sea pipeline, which is also China’s largest diameter crude oil pipeline, came into operation in May 2017. On May 19 2017 New Vigorous, a 300,000-tonnes Very large Crude Carrier (“VLCC”), delivered Middle East crude oil through the pipeline to the crude oil tanks at the Sinopec Maoming refinery, one of China's largest refineries. This event marks the completion of the largest upgrading of the Maoming SPM - China's first single mooring facility, following 22 years safe, environmental friendly and efficient operations.

    The first Maoming sub-sea pipeline, which came into operation in December 1994, was 34 inches in diameter and designed with an annual handling capacity of 11 million tonnes. Since the pipeline commenced operations, it has handled 1003 vessels and imported 193 million tonnes of crude oil with a record of zero oil spills or marine environmental pollution accidents. With the operation of the new pipeline, the annual import capacity of Maoming SPM will increase to over 15 million tonnes.