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
Will rising Libyan oil production ruin the Opec deal?
16 January 2017
Exempt from the cuts, the country could still help decide their success or failure
Big Oil will get a bigger voice under Trump
16 January 2017
Oil's stock is on the rise in Washington, DC as industry backers prepare to take the reins of power
Mexico's reformation leader
9 January 2017
In October, Petroleum Economist met with Mexico's Secretary of Energy, Pedro Joaquín Coldwell, during our strategy forum in Mexico City. In the following weeks, we carried out an interview over email with the minister. The questions and answers follow