Albanias govt approves privatisation plan for oil producer Albpetrol.

By bne IntelliNews October 28, 2011
Albanias government has approved a plan for the sale of state-owned oil producer Albpetrol at a meeting on October 26, 2011, energjia.al news portal reported. The privatisation will be performed in full compliance with the law for strategic privatization, adopted in 1998. However, no further details were announced. In a related decision the government agreed to pay additional ALL 20mn (EUR 141,300) to US Patton Boggs, which was selected in June 2010 as a consultant on Albpetrols privatisation. Patton Boggs said earlier that the selloff of Albpetrol should be delayed for some time so that it could bring profit to the state. Albpetrols profit almost doubled to USD 1.1mn in the first seven months of 2011 from USD 0.6mn in the same period last year. The company produced 427,000 tonnes of oil in H1 2011, while the annual production in full-2011 is expected to reach 870,000 tonnes. Albania hopes by the end of this year to complete other strategic privatisation deals such as the sale of the remaining 16.77% share in dominant landline operator Albtelecom and insurer INSIG.

Related Articles

Albania calls tender for supervision of sewerage project.

Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more

Albania's govt approves changes in concession agreement for Devoll project.

The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more

Albanian parliament panel endorses EUR 12.7mn EBRD loan for dam safety project.

The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss