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.
