Forte sells Nigeria assets, exits Ghana

Multinational

LAGOS, May 3, 2018 – Forte Oil has announced plans to sell its upstream services and power sector businesses in Nigeria and leave Ghana, international media reported Wednesday.

The company plans to focus instead on its fuel retail business in Nigeria, citing recent changes in the country’s downstream sector. Forte Oil has also been in talks to partner with a refinery to make petroleum products locally, Reuters reported.

The company plans to ask for shareholders to approve the move May 23.

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