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Home Business News

Forte Oil Wins Contract To Lift Crude

Nairametrics by Nairametrics
December 18, 2015
in Business News, Company News
Analysis 2013 FY : Forte Oil Plc 396% Increase in PAT Is Not All It Seems

Forte Oil Tank Facrm Source: Nairametrics File

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Forte Oil has announced that it has that it has secured approval to lift petroleum on behalf of the Federal Government. This was contained in a statement released to the Nigerian Stock Exchange on Thursday.

According to the company, the crude lifting contract was achieved after a successful bid for the rights as tendered by the NNPC.

Forte now joins the rank of other indigenous Nigerian companies who lift crude on behalf of the NNPC. Forte Oil also has an interest in the power sector and is a major player in the downstream sector of the oil and gas industry. The company has revealed its intention to transform fully into an integrated oil and gas company.

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Forte Oil share price was up 5% today to close at N254 per share. The share price is currently up 34% YTD.

 

 

Tags: Forte OilOIl and Gas NewsPower Sector
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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