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Forte Oil divests upstream services
May 29, 2018
Source: Vanguard

Forte Oil divests upstream services

In a major restructuring attempt, the Nigerian-energy group, Forte Oil Plc has revealed its intentions to divest its upstream services business (Forte Upstream Services Limited); power-generating business (Amperion Power Distribution Limited) and downstream business in Ghana (AP Oil & Gas Ghana Limited). Forte Oil would be using the funds from divestment on the downstream marketing business. This move will boost its distributable earnings for the benefit of shareholders.

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