Albpetrol privatization
27/11/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
While the government is continuing the negotiations for the sale of
Albpetrol, without publishing any detail, new facts come into light that
could cause a new trial for the process.
An American company hired in 2012 by the government to search for oil in Albanian territory, claim that the government has taken some areas from them and given it to Albpetrol. The Sky Petroleum Company claims that the government has unilaterally broken the agreement which included what areas that are technically known as Block 4, Block 5 and Dumre, attaching it to the list of assets that will be sold together with Albpetrol.
The case is currently being reviewed by the Arbitral Tribunal. Sky Petroleum and the Albanian government have already seen each other in a trial about this matter. This official document shows that on January 20th, a US court in Texas has ruled in favour for the US Company by ordering the Albanian government to stop the transfer of the assets in question until a final decision will be taken by the Arbitral Court.
The decision was ignored by the Albanian part, although the case is under trial. The government withdrew from the sale of these areas and Albpetrol. If the Arbitral Court will rule in favour of the US Company, Albania risks facing another fine.
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