Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business (42602 Views)
Breaking: Femi Otedola Leaves Forte Oil As Chairman / Femi Otedola To Sell His Forte Oil Shares / See The Dilapidated Road That Femi Otedola's Forte Oil Rehabilitated In Lekki (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
| Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Faithway10: 2:43pm On Jun 19, 2019 |
The Chairman of Forte Oil Plc, Femi Otedola, has announced that they have sold all shares in the firm’s downstream business, to focus and consolidate on the gains of their power generation business, Geregu Power Plc. This is coming more than three years after the firm sold 17 per cent of its equity to a Swiss oil trading firm. The billionaire business man disclosed this on his Instagram page today, June 19th. "A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing business, African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders. In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964 �� ...F.Ote�" he wrote on Instagram. Forte Oil, formerly known as African Petroleum Plc, operates majorly in the downstream sector of the oil and gas industry. Recall that in 2018, the Oil magnate invested $350 million in a power generation company known as Geregu Power plc. Otedola acquired the company in 2013 through a subsidiary of Forte Oil Plc, Amperion Power Distribution Company Limited. Read more; http://www.amagitesblog.com/2019/06/billionaire-femi-otedola-sells-forte-oil-exits-fuel-business%E2%80%8B.html 6 Likes
|
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Kendumazy(m): 4:46pm On Jun 19, 2019 |
Simple business tactics. Diversification! You don't have to limit your thinking to one business. Nice one otemoney! 8GB Atm card flash drive for #1000 only.Check link below https://www.nairaland.com/4972442/clearance-sales-quality-8gb-atm 19 Likes 2 Shares |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by BubuZombi: 4:46pm On Jun 19, 2019 |
That's Good... Oil and power which is more profitable 1 Like |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Earthquake3: 4:46pm On Jun 19, 2019 |
This man has seen the future and ran away from fuel business 201 Likes 13 Shares |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ijaya123: 4:46pm On Jun 19, 2019 |
Mission accomplished. Moving on to the next money-making venture. It is called divestment. That's how successful seasoned business-minded people operate. Meanwhile some morons will still find a way to blame PMB in this. PstTobi: Weldone Prayer Warrior. 28 Likes |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Jaynom(m): 4:46pm On Jun 19, 2019 |
Smart man. ELECTRIC CARS, ELECTRIC TRUCKS, ELECTRIC HIGHWAYS, ELECTRIC TRAINS, PLANES THAT RUN ON SOLAR ENERGY. He's seen what's ahead. Las Las we go drink our petrol 85 Likes 3 Shares |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by IjebuWarrior: 4:46pm On Jun 19, 2019 |
Good move! Given the recent trend of oil prices dwindling and a viable alternative to crude oil is around the corner. This should also be a STERN warning to all the major stake holders of the Niger Delta oil and all those that have held 9ja to stake cuz of her oil. Las, las... na Thunder go fire dem all!  9 Likes |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by MANNABBQGRILLS: 4:46pm On Jun 19, 2019 |
"A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing business, African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders. In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964 �� ...F.Ote�" he wrote on Instagram.The whole world step aside for a man who knows where he is going! 33 Likes 6 Shares
|
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by timileyine(m): 4:47pm On Jun 19, 2019 |
Ftc |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by DimkpaBini: 4:47pm On Jun 19, 2019 |
Smart businessman 2 Likes 1 Share |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Dozie32(m): 4:47pm On Jun 19, 2019 |
Just which i go just de watch car for this man |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Nobody: 4:47pm On Jun 19, 2019 |
 |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by qualityovenbake(m): 4:47pm On Jun 19, 2019 |
Fossil Fuel and Electric Vehicles(EV) is the Future. 3 Likes |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by omhor(f): 4:47pm On Jun 19, 2019 |
Unbelievable!!! 1 Like |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Qpetz: 4:47pm On Jun 19, 2019 |
 Next Level |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by BakireBulmaker: 4:47pm On Jun 19, 2019 |
Forte oil is still within the Yoruba family...  Odi ok...  1 Like |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Danwakae(m): 4:47pm On Jun 19, 2019 |
NOW SET FOR NIGERIA PLLITICS. |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by crazyABO(m): 4:47pm On Jun 19, 2019 |
Scam |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by specie103(m): 4:47pm On Jun 19, 2019 |
Another business about to be unravel |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by yinparc: 4:47pm On Jun 19, 2019 |
OK |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by femtex007(m): 4:47pm On Jun 19, 2019 |
That's his own cup of tea 1 Like 1 Share |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Nobody: 4:47pm On Jun 19, 2019 |
timileyine:FTC?  |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by tobtap: 4:48pm On Jun 19, 2019 |
|
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Frankyboy1(m): 4:48pm On Jun 19, 2019 |
Thief |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by BetaJobNG: 4:48pm On Jun 19, 2019 |
Future isn't looking great for petroleum biz. The guy is looking into the future. Do you need a new job? Try out https://BetaJob.com.ng 1 Like
|
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Abbeyme: 4:48pm On Jun 19, 2019 |
ok |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by labusinessguide: 4:48pm On Jun 19, 2019 |
Nothing is stable in business |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by AngelicBeing: 4:48pm On Jun 19, 2019 |
Hmmmm |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by nurez305(m): 4:48pm On Jun 19, 2019 |
 |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by PstTobi: 4:49pm On Jun 19, 2019 |
I just pray this man won't go broke. 3 Likes |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by chigoziri2403(m): 4:49pm On Jun 19, 2019 |
Can he also sell dj cuppy shares, I want to invest heavily 2 Likes |
| Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by MANNABBQGRILLS: 4:49pm On Jun 19, 2019 |
PstTobi:Thanksfor your prayers Pastor Tobi!! timileyine:Wake up! 9 Likes 4 Shares |
Prince Omoha Bags African Young Entrepreneur & Humanitarian Personality Award / Sani Dangote's Burial In Pictures / Ever Been Debited By Your Bank ATM Without Payment? Share Your Experience Here!
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40 |