Canadas APIC Petroleum Corporation eyes purchase of Albanias Albpetrol.

By bne IntelliNews February 2, 2012
Canadian APIC Petroleum Corporation said it plans to participate in a tender procedure for the privatisation of Albanian oil producer Albpetrol. APIC has already signed a memorandum of understanding with an Albanian business partner, seeking to secure a meaningful participation in this process, it said in a statement, published on Toronto Stock Exchanges website. The Canadian enterprise will develop its energy project in Albania in partnership with Paris-based Green Power 2020 SAS. APIC also plans to raise CAD 3.2mn in private placement in order to finance evaluation of Albpetrol's assets and other energy focused projects. The privatisation process for 100% of the Albanian oil producer is expected to be completed by November 2012, the statement added. As noted, the company produced 427,000 tonnes of oil in H1 2011, while the annual production in full-2011 is estimated to reach 870,000 tonnes.
Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

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