Last 13.00 GBp
Change Today +1.25 / 10.64%
Volume 1.8M
FTO On Other Exchanges
As of 11:35 AM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

fortune oil plc (FTO) Snapshot

11.50 GBp
Previous Close
11.75 GBp
Day High
13.00 GBp
Day Low
11.50 GBp
52 Week High
03/11/14 - 14.25 GBp
52 Week Low
06/24/13 - 5.23 GBp
Market Cap
Average Volume 10 Days
0.08 GBp
Shares Outstanding
0.18 GBp
Dividend Yield
Current Stock Chart for FORTUNE OIL PLC (FTO)

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fortune oil plc (FTO) Details

Fortune Oil PLC, an independent energy company, develops and operates oil and gas supply, and infrastructure projects in the People's Republic of China. It operates an off shore crude oil import terminal, refined products jetty and storage terminal, and aviation refueling; and supplies and trades in oil and petrochemical products, liquefied petroleum gas, and liquefied natural gas (LNG). The company is also engaged in the exploration, production, distribution, and supply of natural gas to residential, industrial, and commercial customers; and the operation of natural gas vehicle refueling stations. In addition, it is involved in the development and commercialization of coal bed methane project covering 183 square kilometers in Liulin, Shanxi Province; and operation of single point mooring facility. As of September 30, 2013, it operated 224 compressed natural gas (CNG), LNG, or combined CNG/LNG stations. Fortune Oil plc is headquartered in Wanchai, Hong Kong.

fortune oil plc (FTO) Top Compensated Officers

Executive Director and Member of Executive Co...
Total Annual Compensation: 219.0K GBP
Executive Vice Chairman and Member of Executi...
Total Annual Compensation: 40.0K GBP
Compensation as of Fiscal Year 2012.

fortune oil plc (FTO) Key Developments

Fortune Oil plc Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2013

Fortune Oil Plc reported unaudited consolidated earnings results for the year ended December 31, 2013. For the period, the company reported group revenue of GBP 233,142,000 against GBP 214,588,000 a year ago. Profit from operations was GBP 103,589,000 against GBP 28,514,000 a year ago. Profit before tax was GBP 164,626,000 against GBP 28,724,000 a year ago. Profit for the period attributable to owners of the parent was GBP 164,127,000 or GBP 7.94 per diluted share against GBP 15,666,000 or GBP 0.82 per diluted share a year ago. Net cash from operating activities was GBP 14,715,000 against GBP 16,050,000 a year ago. During the period, the group spent approximate GBP 10.8 million on assets in the course of constructions, consisting of gas pipeline networks, motor vehicles and fixture and fittings. Payment for property, plant and equipment was GBP 10,830,000 against GBP 15,704,000 a year ago. Payment for exploration and evaluation assets was GBP 962,000 against GBP 4,623,000 a year ago.

Fortune Oil plc Appoints Tian Jun as Acting Chief Executive and Executive Director; Announces Changes in Financial Year End

Fortune Oil announced the appointment of Dr. Tian Jun as the Acting Chief Executive and Executive Director of the company with immediate effect from the date of this announcement. Dr. Tian joined Fortune Oil as Deputy Chief Executive in April 1999 and has become the Group Chief Operating Officer since February 2006. Over his years with the Company, Dr. Tian has been heavily involved in development, management and operation of the oil and gas businesses. Dr. Tian also played an important role in the merging the gas operation with the one of China Gas Holdings Limited. The company announced the change of its financial year-end date from December 31 to March 31 starting from the financial year of 2014.

Fortune Oil plc Receives Final Approvals from the Relevant Regulatory Agencies in the People's Republic of China for the New SPM Joint Venture

Fortune Oil plc announced that the final approvals from the relevant regulatory agencies in the People's Republic of China (the PRC) for the new SPM joint venture between Fortune Oil and Sinopec have been obtained. The Company had an interest in a crude oil import terminal in the PRC which supplied around 4% of the PRC's crude oil imports in 2012. The import terminal allows very large crude oil carriers of up to 300,000 dwt to moor and deliver crude oil via a 15 kilometre sub-sea pipeline. The previous joint venture arrangement between the Company and Sinopec in connection with the import terminal expired in February 2013. After months of negotiations, Fortune Oil has entered into a new joint venture agreement with Sinopec in respect of the SPM. Under the new shareholding structure, the shareholding interest in the SPM of the Company is 33% and, accordingly, it no longer holds a controlling equity stake in the joint venture. Nonetheless, the scope of the new joint venture has been expanded with the potential development of a new pipeline and buoy. The term of the new joint venture is 20 years.


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