Forte Oil Plc, Nigeria’s foremost energy group, with interests in downstream petroleum operations, power generation and upstream petroleum services, continues to exceed NSE operating requirements through its corporate actions.
The company in January 2014 became the first listed corporate entity since the establishment of the NSE, to announce its full year audited financial reports within 31 days of the end of its fiscal year. Listed companies are expected to announce their audited financial statement within ninety days after the close of the fiscal year. Forte Oil PLC has also added to that feat by being the first public company to host its Annual General Meeting with its shareholders within the first quarter of 2014.
According to Mr. Akin Akinfemiwa, the Group CEO of Forte Oil PLC, "these corporate actions are a testament of the Company’s unflinching commitment to financial and business disclosures hinged on our drive to create value to the ultimate benefit of our shareholders and the entire investment community in general".
Forte Oil PLC operates over 500 retail outlets in Nigeria and Ghana. It diversified into power generation with the recent acquisition of the 414MW Geregu Power Plant. The Company also supplies Well Production Chemicals and Drilling/Completion fluids to the Nigeria upstream sector.
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