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