• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News
Forte Oil Plc, Femi Otedola, Forte Oil to change name, Olumide Adeosun

Is Forte Oil Plc considering changing its name following acquisition?

Damilare FamuyiwabyDamilare Famuyiwa
4 years ago
in Business News, Company News
Share on FacebookShare on TwitterShare on Linkedin

There are strong indications that the new management and board of Forte Oil Plc may soon change the company’s name as part of a strategic rebranding process.

In a chit-chat with some journalists, yesterday, the company’s newly-appointed Chief Executive Officer (CEO), Olumide Adeosun, noted that the current name is personal and may very likely be changed.

“The name FO is actually personal to an individual and that individual has sold his shares and it’s very likely that we are going to rebrand.” – Adeosun

[READ MORE: Femi Otedola considering the purchase of assets from Forte Oil]

At the moment, it is unclear if the new majority owners of Forte Oil Plc will maintain the name or eventually change it.

Forte Oil
Forte Oil HQ

Recall that on Wednesday, June 19, Femi Otedola announced his exit from Forte Oil Plc, after receiving full payment for the sale of the company to Prudent Energy Services Ltd.

The company’s previous transformations: Forte Oil Plc was initially incorporated in 1964 as British Petroleum Nigeria Limited. After 14 years in operation, it changed its status from a private limited liability company to a public liability company.

  • In 1977, 40% of the company’s shares were sold to Nigerians in compliance with the provisions of the Nigerian Enterprises Promotion Decree of 1977.
  • A year later 60% was acquired by the Federal Government of Nigeria in favour of the Nigerian National Petroleum Corporation (NNPC).
  • In November 1979 the name British Petroleum was changed to African Petroleum PLC.
  • NNPC’s stake in AP was reduced by 20% in March 1989 after the Federal Government sold the above percentage to Nigerian Citizens, increasing their stake from 40% to 60%.
  • In the year 2000, the Federal Government under its privatization programme divested its remaining 40% to core investors and interested Nigerians.

Download Nairametrics App for breaking news and market intelligence.
   
Tags: Femi OtedolaForte OilNigerian Business NewsOlumide Adeosun
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *







NM newsletters
Kwakol
Abbey
IMT

Zenth Bank
UBA
Mega Millions

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • UPDATED: Tribunal dismisses Ashiru’s petition, upholds Uba’s victory
  • Stakeholders score Cutix high as Ambassador Nwosu retires
  • Obaseki Accepts Shaibu’s Apology says ’To Err Is Human’

Follow us on social media:

Recent News

UPDATED: Tribunal dismisses Ashiru’s petition, upholds Uba’s victory

UPDATED: Tribunal dismisses Ashiru’s petition, upholds Uba’s victory

September 28, 2023
Cutix Plc

Stakeholders score Cutix high as Ambassador Nwosu retires

September 28, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Contact Us
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In