Albpetrol sell-off scrapped as accusations fly

06 March 2013

Albania's attempt to privatise the state oil and gas firm has stumbled, writes NJ Watson


IF THE EU required evidence of Albania's inability to improve transparency and accountability in government and business, then it need look no further than the fiasco surrounding the recent attempt to privatise the country's most valuable asset, state oil and gas firm Albpetrol.

In February, the Albanian government was forced to scrap the tender for 100% of Albpetrol after it first had to invalidate the winning bid from a consortium headed by local businessman Rezart Taci because it failed to come up with a down payment, then had to abandon talks with the second-placed bidder, China's Win Business Petroleum Group, because, under the tender rules, the bids had expired.

Minister of Economy, Trade and Energy Edmond Haxhinasto told local television station Top Channel on 20 February that a re-run of the tender would probably be held after the 23 June general election.

Haxhinasto also denied any responsibilityon...

Please log in to read the rest of this article or if you are new to Petroleum Economist, take advantage of one week's free access and register here

If you have any queries about your account or problems registering please contact Alastair Noakes on +44(0)20 7779 8007 or

Login here

You must login to your account to read the rest of the article.


Register here

Create your online account to gain 7 days FREE access 


Related Articles

  • Europe faces a lower-carbon future

    The approaching COP 21 talks in Paris have focused the minds of Europe’s energy producers and consumers on future regulations and their own competitiveness

  • Explosions rock Turkish transit

    The ability of pipelines to resist hostile attack is being sorely tested in Turkey, with Kurdish separatists attacking the gas lines

  • Kiev prepares for the winter

    Ongoing negotiations between Ukraine, Russia and the EC about a new winter package are nothing like last year


Latest issue: November 2015

China parks its tanks on the UK lawn

Some aspects of European energy markets continue to surprise, even after a decade or so of intended competition across the continent

View online now