19th Nov 2013 11:47
LONDON (Alliance News) - Fortune Oil PLC Tuesday said its sales volumes increased in its third quarter on strong demand in China, adding its overall business performance is in line with expectations.
The oil and gas company, which operates in China, said its natural gas sales volumes increased 20% to 422.1 million cubic metres and its Bluesky jet fuel sales increased 13% to 884,000 tonnes for the three months ended September 30 compared the the same period in the previous year.
Fortune said it has steadily expanded due to the strong demand for its product in China and, in the full year 2013, the company's partner China Gas Holdings limited supplied over 7 billion cubic metres of natural gas to cities with an urban population of over 65 million people.
The company also said it has completed its previously announced transfer of Fortune Gas International Holdings Limited to China Gas Holdings.
Fortune Oil shares were down 3.7% to 9.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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