Forte Oil to sell assets in Nigeria and Ghana

Nigerian energy firm Forte Oil plans to sell its upstream services and power businesses in Nigeria and divest from Ghana to focus on its core fuel distribution operation at home, the company said on Wednesday.

Forte Oil, majority owned by billionaire Femi Otedola, did not give a reason for the change in direction but said the downstream sector in Nigeria had gone through changes in recent years and was expected to evolve further. Reuters