Shares of Forte Oil Plc surged further Thursday as investors continued to react positively to the news of Mr. Femi Otedola’s planned divestment. Otedola’s intention to sell his 75 per cent direct and indirect shareholdings in the company, was disclosed on Monday in a notification to the Nigerian Stock Exchange (NSE). According to the notification, […]
Read More For the second year running, Forte Oil, with majority shares held by billionaire Femi Otedola, maintained its leadership from the rear as the worst performing stock on the Nigerian Stock Exchange (NSE) in 2017 in percentage terms. Statistics obtained by the News Agency of Nigeria (NAN) from the exchange indicated that the stock, which opened […]
Read More There was pandemonium on Friday afternoon at the Murtala Muhammed Airport, Lagos following a fire outbreak at the Forte Oil Petrol Station. The inferno which started around 2.10pm saw people running for safety thereby causing vehicular traffic jam on the roads within the airport. The spokesperson for the Lagos Airport Police Command, DSP Joseph Alabi, […]
Read More Forte Oil Plc posted a profit after tax of ₦7.9 billion for the first half of 2018, compared to N4.11bn recorded in the same period last year. The firm’s unaudited results for the period ended June 30, 2018 showed that its revenues increased by 32 per cent to ₦61.8 billion from ₦46.7 billion. Its earnings […]
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By Chijioke Ohuocha LAGOS, May 2 (Reuters) – Nigerian energy firm Forte Oil said it plans to sell its upstream services and power businesses in Nigeria and divest from Ghana to focus on its core fuel distribution operation at home. The move comes as a surprise about-turn for a company whose Chief Executive Akin Akinfemiwa […]
Read More Nigeria’s Forte Oil Plc has announced a profit before tax growth of 99 per cent to ₦10.6 billion in its financial year ended December 31, 2017 activities. The firm’s audited results released on the Nigerian Stock Exchange (NSE), recently, showed that profit before tax grew by 99 per cent to ₦10.627 billion from ₦5.34 billion […]
Read More For the second year running, Forte Oil maintained its leadership as the worst performing stock on the Nigerian Stock Exchange, NSE, in 2017 in percentage terms. Statistics obtained from the exchange indicated that the stock, which opened trading in 2017 at ₦84.43, dropped by 48.50 per cent to close the year at ₦43.48 per share. […]
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The Nigerian National Petroleum Corporation (NNPC) has intensified efforts to flood the market with Premium Motor Spirit (PMS), otherwise called petrol, and other products. Already, six major marketers: Total, Forte Oil, Oando Plc, MRS, 11 Plc and Nipco Plc, are now loading products round the clock from their various depots in Lagos for onward trucking […]
Read More An integrated indigenous oil firm, Forte Oil Plc, has expanded operation into the renewable energy with the inauguration of its solar energy solution tagged ‘Green Energy’ solution. Speaking during the launch, its Group Chief Executive Officer (GCEO), Mr. Akin Akinfemiwa, said: “We are foremost integrated energy provider with footprints across the value chain of the […]
Read More Forte Oil Nigeria Plc has said that it’s expanding its businesses with the introduction of new products and services offering in the areas of solid control, waste management and engineering services, which is aimed at boosting the company earnings performance. The Group Chief Executive Officer Mr Akin Akinfemiwa disclosed this to market operators during its […]
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Forte Oil Plc has disclosed plans to raise ₦20 billion capital by way of equity out of the ₦100 billion approved by the shareholders at its Annual General Meeting, AGM, to boost its operations. Executive Director and Group Chief Financial Officer, Mr. Julius Omodayo-Owotuga, who disclosed this to newsmen in Lagos said, “We have commenced […]
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The Federal Government is owing oil marketers N300billion in oil subsidy, Group Chief Executive Officer (GCEO), Forte Oil Nigeria, Akin Akinfemiwa, has said Akinfemiwa spoke before the Hon. Abdullahi Mahmud Gaya-headed House of Representatives Adhoc committee investigating alleged huge debts and criminal,act of sabotage by major oil marketers in connivance with Products Pipeline Marketing Company […]
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