Energy

Wed, 01/13/2010 - 13:49

Fortune Oil to expand into upstream business

by Terry Wang

China's coal bed methane (CBM) sector, like the wind and solar energy sectors, has entered a boom phase in recent years. As the industry is in its infancy, it has attracted a lot of new investors, from domestic oil giants to local energy producers, private investors and foreign enterprises. In this week's interview, John Pexton, the deputy chief executive officer of Fortune Oil, discusses his company's development plans, as well as his view of China's energy industry, particularly the CBM sector.

"We are really focused on accessing upstream assets and then developing both midstream and downstream assets for the sale of gas, instead of relying solely on downstream connection fees to generate a profit."
John Pexton, deputy chief executive officer of Fortune Oil

Shanghai. January 13. INTERFAX-CHINA - Fortune Oil plc was listed on the main board of the London Stock Exchange in 1993, and has since been involved in the oil and gas business in China, mainly covering natural gas and oil trading, product supply and storage sectors.

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