Exhibit 21.1

List of Subsidiaries

The Company has the following subsidiaries:

• Goodwill Rich International Limited, a Hong Kong company
• Dalian Fusheng Consulting Co. Ltd., a PRC company
• Rongcheng Zhuoda Trading Company, Ltd. (located in Rongcheng City, Shandong Province, and established in September 2009 under the laws of the PRC).
• Shanghai Fusheng Petrochemical Company, Ltd.
• Rongcheng Mashan Xingyuan Ltd.
• Suzhou Fusheng Petrochemical Company, Ltd. (located in Suzhou City, Jiangsu Province, and established in December 2011 under the laws of the PRC).
• Donggang Xingyuan Marine Fuel Company, Ltd. located in Dandong City, Liaoning Province, and established in April 2008 under the laws of the PRC).
• Tianjin Hailong Petrochemical Company, Ltd. (located in Tianjin City, and established in April 2010 under the laws of the PRC).
• Shenzhen Shengfu Petrochemical Company, Ltd.
• Shandong Xifa Petrochemical Company, Ltd. (located in Zibo City, Shandong Province, and established in November 2010 under the laws of the PRC).
• Dalian Xifa Petrochemical Company, Ltd. (located in Dalian City, Liaoning Province, and established in June 2010 under the laws of the PRC).
• Shangdong Shengfu Petrochemical Company, Ltd.
• Wujiang Xinlang Petrochemical Company, Ltd. (located in Wujiang City, Jiangsu Province, and established in April 1998 under the laws of the PRC).
• Dalian Xingyuan Marine Bunker Company, Ltd.
• Xiangshan Yongshi Nanlian Petrol Company, Ltd. (located in Xiangshan City, Zhengjiang Province, and established in May 1997 under the laws of the PRC).
• Rongcheng Xinfa Petrol Company, Ltd. (located in Rongcheng City, Shandong Province, and established in September 2007 under the laws of the PRC).