200.000 tons of crude oil on sale by state-owned “Albpetrol”

15/08/2017 00:00

Albpetrol will sell 200.000 tons of crude oil within this month. The
total quantity could reach 45 million USD. The bid for the highest sale
made by the state-owned company, was announced by the Ministry of

The floor price will be 71% of the Brent Price in international market, plus a K coefficient, taken from the additional margin which decides the winners.

The Albanian oil has a lower quality than what is sold in international markets. For this reason, it is sold with a lower price that is decided by a special commission of experts.

The current price is 330 USD per ton, according to Bloomberg. This means that the bids for Albetrol’s oil must start from at least 234 dollars per ton.

The Albanian oil industry has received strong hits in the past years due to the dropping prices in international markets. Private companies have reduced investments and production, while Albpetrol has faced lower income.

The state company hopes that this bid may generate revenues which will cover spending costs, and also for transferring profit to the state budget.

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