Forte Oil and Gas - Company Overview

Forte Oil and Gas, now known as Ardova plc is a prominent Nigerian integrated energy company that has been in operation since 1964. The company's core business is centered on the downstream sector of the Nigerian oil and gas industry which includes the distribution and marketing of petroleum products, lubricants, and other related services. Recently, the energy company slightly diversified into the upstream sector which involves exploration and production activities. Over the years, Forte Oil and Gas has experienced substantial growth and established a dominant position in Nigeria's energy industry.

Brief History

Forte Oil and Gas was originally known as African Petroleum (AP), a company founded in 1964 as a joint venture between British Petroleum (BP) and the Nigerian government. In 1978, the Nigerian government acquired BP's shares in AP, and the company became fully owned by the Nigerian government. In 2007, AP was privatized and sold for 17million to a group of Nigerian investors led by Femi Otedola, a prominent businessman and entrepreneur. The company was subsequently rebranded as Forte Oil and Gas, then Ardova Plc indicating its renewed focus on the Nigerian downstream sector.

Organizational structure, operations and revenue

Forte Oil and Gas is a publicly listed company on the Nigerian Stock Exchange with a market capitalization of about 25 billion naira. As of 2021, the company announced a 10.71% revenue growth totaling gross revenue of N192.47 billion. The gross revenue represents a 5.95 percent increase from the N181.66 billion realized in 2020. Fast forward to 2022, the organization recorded a N13.98 billion gross profit representing a 41.7% increase from N9.85 billion in the previous year. The company is divided into the following business units: 

Downstream 

This unit is responsible for the distribution and marketing of petroleum products, including gasoline, diesel, aviation fuel, and kerosene, to retail and commercial customers across Nigeria. Forte oil and gas has over 450 retail outlets with a substantial storage facility in Lagos and River states. 

Lubricants

This division, which is also the sole distributor of shell lubricants, ensures the production and distribution of high-quality lubricants under the brand name "Ardova Plc Lubricants." These products are sold both domestically and internationally and have Super V and Visco 2000 as the best seller engine oils in Nigeria.  

Key players

• Abdulwasiu Sowami - Chairman

• Olumide Adeosun - Chief Executive Officer

• Moshood Olajide - Chief Financial Officer

• Muhammed Aminu Umar - Non-executive officer

• Olusola Adeeyo - Independent non-executive director

• Aniola Durosinmi-Etti - Non-executive officer

The Management Team

• Toyin Leo-Olagbaiye - Head, aviation Marketing

• Habib Bello - Lubes and specialties marketing

• Oladeinde Nelson Cole - Legal Adviser

• Ibrahim Bamgbopa - Head, engineering and infrastructure products

• Abiodun Ope Adesanya - Manager, Human Resources

• Edidiong Ekwere - Head, strategy and government relations

• Joseph Ogbeide - Manager, Brands and Corporate communications

• Oluseun Ismail - Treasurer

Employees

Forte Oil and Gas currently has an employee base of about 450. 

Feats of Forte Oil and Gas

• 2019 - Forte Oil Plc rebranded and changed its name to Ardova Plc 

• 2019 - Profit after Tax hits N5.3bn in 9 months

• 2016 - Forte oil raised N9bn bonds

• 2016 - Forte oil wins best governance award for Africa

• 2017 - Impressive record of good corporate behavior.

• 2014 - Forte Oil makes Nigeria's top 100 companies list.

• 2014 - Forte oil partnered with GTbank to increase GTExpress locations

Connect with Forte Oil and Gas (Ardova Plc)

• Primary location - 1 AP/ Conoil road, Ijora, Apapa, Lagos, Nigeria

• Website - www.ardovaplc.com 

• Instagram - Ardovaplc

• YouTube - Ardova plc

• Twitter - Ardovaplc

• LinkedIn- Ardovaplc
  

Forte Oil and Gas Products 

Petroleum Products: The company specializes in distributing a wide range of petroleum products, including:

• Premium Motor Spirit (PMS): Also known as gasoline.
• Diesel.
• Aviation fuel.
• Kerosene.
• Lubricants for various automobiles and machines.

The Lubricants of Forte Oil and Gas 

Ardova Plc, formerly known as Forte Oil PLC, produces and distributes a wide range of high-quality lubricants. These lubricants meet and surpass various automotive and industrial lubrication needs. Let's explore some of the lubricants offered by Ardova:

• Super V: Super V is one of Ardova's branded automotive engine oils. It provides superior engine protection and ensures optimal performance. The lubricant is designed to withstand high temperatures and maintain stability. 
• Visco 2000: Visco 2000 is another quality lubricant offered by Ardova. It is suitable for various applications, including automotive and industrial use. Like Super V, Visco 2000 provides excellent engine protection and consistent quality.
• Diesel Motor Oil: Ardova produces diesel motor oil, which is essential for diesel engines. This lubricant ensures optimum engine performance and helps extend the engine's lifespan. It is formulated to handle the specific requirements of diesel-powered vehicles and machinery.
• Shell-branded Helix Engine Oils: Ardova is the sole authorized distributor of Shell-branded Helix Engine Oils in Nigeria. These oils are known for their quality and performance. They offer superior protection and contribute to smoother engine operation.

Quality Commitment

Forte Oil is committed to providing high-quality petroleum products to its customers and adhering to corporate governance principles.

Benefits of Forte Oil Products

Superior Engine Protection 

Forte Oil's lubricants are designed to provide enhanced protection for your engine, reducing wear and tear over time and ensuring optimal performance.

High Temperature Stability

Even in extreme heat conditions, Forte Oil's lubricants maintain their stability, enabling your engine to operate efficiently without the risk of breakdown or damage. 

Excellent Low-Temperature Starting 

When the temperatures drop, Forte Oil's products ensure that your engine starts smoothly, preventing any issues related to cold weather conditions such as engine stalling or sluggish performance.

Optimum Engine Performance 

By using Forte Oil lubricants, your engine can achieve peak performance levels, leading to improved fuel efficiency, reduced emissions, and overall better driving experience.

Consistent Quality

Forte Oil maintains strict quality standards to ensure that their products consistently meet high performance and safety requirements, providing customers with reliable and top-tier lubricants.

Low Fuel Consumption

By using Forte Oil lubricants, you may experience lower fuel consumption due to improved engine efficiency, ultimately leading to cost savings and reduced environmental impact.

Preservation of Engine Power

Forte Oil's lubricants help to protect and maintain your engine's power output, ensuring that it operates at its full potential for longer periods, without experiencing issues related to wear and tear.

Elongation of Engine Life Span

Through regular use of Forte Oil products, you can prolong the life span of your engine, reducing the need for costly repairs or replacements and ultimately saving you money in the long run.

When considering the specific benefits provided by Forte Oil, it is important to note that these advantages can vary depending on the particular product offerings and formulations available. Each product may have unique features and benefits tailored to different engine types, conditions, and performance needs. For accurate and detailed information about the benefits offered by Ardova Plc's Forte Oil products, it is advisable to visit their official website or reach out to them directly. By accessing their website or contacting them, you can obtain specific details about how their lubricants can optimize engine performance, enhance fuel efficiency, and prolong engine life span based on your individual requirements and preferences. This direct communication will ensure that you receive the most up-to-date and relevant information regarding Forte Oil's benefits and how they can best meet your specific needs.

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