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December 01, 2015 2:29 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Bankers Petroleum Albania Ltd.

Company Overview

Bankers Petroleum Albania Ltd. engages in oil and gas exploration and production. The company was formerly known as Bankers International Energy Ltd. The company is based in Fier, Albania. Bankers Petroleum Albania Ltd. operates as a subsidiary of Bankers Petroleum Ltd.

Lagjja Kastriot

Rruga Vasil Pecuke



Founded in 2004

Key Executives for Bankers Petroleum Albania Ltd.

President and General Director
Age: 68
Vice President and Deputy General Director
Deputy General Director
Compensation as of Fiscal Year 2015.

Bankers Petroleum Albania Ltd. Key Developments

Bankers Petroleum Albania Ltd. Appoints Kristofer Gustafsson as Vice President, Production and Operations and Deputy General Director

Bankers Petroleum Ltd. announced the appointment of Kristofer ("Kris") Gustafsson to the position of Vice President, Production and Operations and Deputy General Director of Bankers Petroleum Albania Ltd. Mr. Gustafsson has a 15 year track record in both oil and gas development in Canada and Albania. Prior to being appointed as Vice President, Production and Operations, he held the role of Deputy General Director, Production and Operations at Bankers Albania and will continue to lead the in-country staff reporting to Mr. Leonidha Çobo, General Director, Albania and corporately to Mr. Suneel Gupta, Executive Vice President and Chief Operating Officer of Bankers Petroleum.

Bankers Petroleum Albania Ltd. Reaches Full and Final Settlement with BP Oil International Limited in Connection with the September 2013 Lawsuit

Bankers Petroleum Ltd. announced that Bankers Petroleum Albania Ltd. (BPAL), has reached a full and final settlement with BP Oil International Limited (BPOI) in connection with the September 2013 lawsuit initiated by BPOI against BPAL at the High Court of Justice in London, England. The settlement is for a payment by BPAL to BPOI of USD 16.5 million inclusive of all costs and interest. The lawsuit was brought in connection with the termination by BPAL in November 2012 of a long term oil supply contract between BPAL and BPOI and initially sought damages of up to USD 54.2 million for, among other things, the alleged wrongful termination of such agreement. BPOI's claim had recently been revalued at USD 37.4 million to reflect movements in oil price since September 2013. As part of the settlement, neither party admitted to wrongful or illegal conduct, and both parties' claims and counterclaims will be dismissed.

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