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November 30, 2015 2:26 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


Fier,  9307


Founded in 1999


355 38 13662


355 38 14168

Key Executives for Albpetrol Sh.A.

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

Albpetrol Sh.A. Key Developments

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

Albanian Governement To Sell Stakes in 21 Enterprises by 2014

The Albanian government plans to sell its majority and minority stakes in at least 21 enterprises by the end of this year. The privatization plan for 2014 includes the sale of ten enterprises, wholly-owned or where government has a majority stake, estimated at €8.34 million. Government also plans to sell its minority shares in at least ten other enterprises, including ALBtelecom Sh.a. in the final quarter of 2014. The Economy and Trade Ministry had previously set a price tag of €34 million for the remaining 16.7% state owned stake in Albtelecom. The privatization list initially included minority stakes in Albanian Oil Refining and Marketing Company (ARMO) and CEZ Shperndarje Sh. A. Government also plans to collect €5 million from the sale of several small assets such as buildings or military facilities. The 14.9% minority share in ARMO will be offered for €22 million in a tender scheduled for 2015. The Albanian government also plans to sell Albpetrol Sh.A. after its failed privatization in 2012.

Government Reiterates Its Intentions To Privatize Albpetrol

The government of Albania has reiterated its intention to privatize Albpetrol Sh.A. Albpetrol's privatization was officially invalidated in early 2013 after a staggering €850 million winning bid by an Albanian-led consortium proved fake. Damian Gjiknuri, Energy Minister of Albania, said that Albpetrol's privatization would not include exploration rights over new blocks. Gjiknuri said, "Government is closely monitoring the process, there was a failed, speculative and badly drafted privatization. It was a privatization which targeted selling the company with all exploration rights even on certain blocks, stripping the state of its sovereign rights. It is more normal that the company, if privatized, is put up for sale for its capacities, its licences and as a company focused on oil exploration and production. Rights on unexplored blocks should remain to the state and will be given to interested companies under competition." In its 2014-2016 economic and fiscal program, the Albanian government also plans to sell Albpetrol after its failed privatization in 2012. The company's assets are estimated at €95 million.

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