Government defends “shell companies”, Ministry: “Top Channel and Reuters speculated”
08/04/2016 19:45
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The Government is taking no responsibility about the fact discovered by
Top Channel, of an offshore company that has been tasked to exploit the
Block No.8 of oil in north-east Albania.
The Ministry of Energy says in an official reaction that the agreement was signed based on the laws in effect. The Ministry declares that the data mentioned by Top Channel and gathered by Reuters and Bloomberg are speculation.
One of the facts is that from four companies involved in the complicated concessions cheme, was registered as an offshore company in the Virgin Islands. But the Ministry says they don’t have any responsibility.
“The law foresees no limitation for the location of shareholders which sign fuel agreements or who transfer shares from one subject to another”, the official announcement says.
On the other hand, the Ministry shows that a 5.3 million USD investment will be done in the area of Block 8, which is considered poor with fuel resources.
“All oil engineers will say that there is no sign of oil in Block 8”, said the legal representative of the company, Arta Danaj, on Top Channel’s “Top Story”.
What security offer the offshore companies that receive exclusive licenses for increasing the efficiency of public assets and using it for long periods of time?
“When we have this level of transactions, we have to do with serious investors. The responsible institutions for finalizing this contract must keep in mind the principle of taking the assets to effiency”, said the Chief of Competition Authority, Lindita Lati.
Top Channel
