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The Three Shareholders of South China Bluesky Aviation Oil Company Limited (“Bluesky”) Renewed the Joint Venture Cooperation Contract, marking a New Journey of Working Together for the Next 25 Years


On 13 December 2021, the signing ceremony of the contract for Bluesky joint venture cooperation was held in Sunshine Hall, 3rd floor of the office tower of China National Aviation Fuel Group Corporation(“CNAF Group”), Beijing. CNAF Group Chairman Mr. Zhou Qiang, BP (China) Holdings Limited (“Air bp China”) General Manager Mr. Yang Minghui, and Fortune Oil Limited Chief Executive Officer Mme. Li Ching, represented the three shareholder for this important historic event.

The signing ceremony included speeches by Air bp China GM Mr. Yang Minghui, Fortune Oil CEO Mme. Li Ching and CNAF Group Chairman Mr. Zhou Qiang. The new agreement for the Bluesky Joint Venture Cooperation was signed by representatives of the three parties: President of China National Aviation Fuel Supply Co., Ltd.  (“CNAF”) Mr. Bian Hui, GM of Air bp China Mr. Yang Minghui and CEO of Fortune Oil Mme. Li Ching. The signing of the contract marks a new journey for the three shareholders to work together and continue their brilliant work for the next 25 years.

For more than 20 years, under the backdrop of China's reform and opening up and rapid transformation of China’s economy, the Bluesky JV was the first State Council approved cross-region aviation fuel Sino-foreign joint venture. The JV has been instrumental in the development of China's aviation industry with its outstanding performance of jet fuel supply and refuelling business. The Bluesky JV established a successful model for the high-quality development of Sino-foreign joint venture in line with international standards. The outstanding performance achieved by Bluesky in more than 20 years are all attributed to the strong support and leadership of the CNAF Group, the institutional advantages of Sino-foreign joint venture and the sincere cooperation of the three shareholders.

On behalf of Chairman of Fortune Oil Limited Mr. Daniel Tatjung Chiu, CEO Mme. Li Ching in her speech deeply recalled the unforgettable development history of Bluesky in more than 20 years, expressed deep gratitude to the founding members of CNAF for their historic responsibilities and great contributions to the establishment and operation of the joint venture, and deep gratitude to CNAF Group led by Chairman Mr. Zhou Qiang for the high trust and strong support on Bluesky’s  joint venture mode at the critical historic juncture, and heartfelt thanks to Bluesky’s excellent management team, all staff and their family members for their more than 20 years of perseverance and dedication.   

As the founding foreign shareholder of Bluesky, Fortune Oil is full of praise, expectation and commitment to renewing our cooperation for the next 25 years. Looking forward to the future, CEO Mme. Li Ching said that in the new period of the joint venture, Fortune Oil will maintain our original intention of the cooperation. That is to continue to make full use of our advantages and resources, and under the leadership of CNAF Group, support the country's rapidly developing aviation market, to firmly seize the major historic opportunities presented by the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and continue to work with CNAF and BP to ensure the excellent performance of Bluesky. 

Fortune Oil GM of Project & Investment Mr. Gao Yimin and GM of Project & Development Mr. Gong Min also attended this historic event.