Related Articles
Forward article link
Share PDF with colleagues

Albania's Albpetrol sell-off scrapped as accusations fly

Albania's attempt to privatise the state oil and gas firm has stumbled

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, Tr

Also in this section
Tanzania's LNG plans remain stalled
19 October 2017
A decision to split the energy and minerals ministry in two may be intended to dispel uncertainty over future liquefied natural gas export plans, but more than that will be needed
Iraq: In for the long haul
19 October 2017
The recapture of Kirkuk was swift, but the Baghdad-Erbil crisis is far from over
South Africa eyes Rovuma gas
19 October 2017
President Jacob Zuma wants to kick-start the country's economy using Mozambique's offshore gas reserves. But do the numbers add up?