In a statement released to the Nigerian Stock Exchange (NSE), Forte oil has denied any plans to go into partnership with local refineries for refining of petroleum products. According to the company, sections of the media misinterpreted a remark made by its Group CEO, Mr Akinsola Akinfemiwa during the Facts behind the Figure session held at the Nigerian Stock Exchange (NSE). The company will notify the NSE and other stakeholders, should it decide to go into any partnership relating to the expansion of the business. Forte shares closed at N59.54 in today’s NSE trading session, down 29.4% year to date.
Below is a copy of the press release.