February 23, 2017 8:23 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Albpetrol Sh.A.

Company Overview

Albpetrol Sh.A. operates as an oil and petroleum company. The company was founded in 1999 and is based in Fier, Albania.

L 29 Marsi

Industrial zone

Patos

Fier,  9307

Albania

Founded in 1999

Phone:

355 38 13662

Fax:

355 38 14168

Key Executives for Albpetrol Sh.A.

Albpetrol Sh.A. does not have any Key Executives recorded.

Albpetrol Sh.A. Key Developments

Pennine Petroleum Corporation Signs Production Sharing Agreement with Albpetrol Sh.A

Pennine Petroleum Corporation announced that it has signed a Production Sharing Agreement with Albpetrol Sh. A for the exploration and development of the Velca Block in Albania. The finalized PSA contains a license agreement signed by Pennine, Albania’s Ministry of Energy and Industry, and Albpetrol, the country’s state-owned energy firm, for a six year exploratory lease—convertible to a 25-year production lease, upon discovery of oil and/or natural gas accumulations. Pennine intends to initiate a Technical Report in the next 60 days, and with existing data, identify potential drilling targets within the Velca Block.

Albania Puts Plans For Albpetrol Privatisation On Hold

The Albanian government has put the privatization plans for Albpetrol Sh.A. on hold for the time being, as falling oil prices have caused interest of foreign investors to drop, the Albanian minister of energy said on December 1, 2015.

Government To Privatize Stake In Albpetrol

Albanian government is planning to sell Albpetrol Sh.A., Edi Rama, Prime Minister of Albanian said that on March 17, 2015. "We are all aware of the importance the energy industry has in the program of the government as one of the most important resource of the economic development of Albania," stated Rama. Rama announced that 2015 will be the year for Albpetrol's final privatization process. "We aim to enhance the cooperation between the government and foreign investors and appeal for further investments in Albania," he said

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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