Albpetrol privatization, state gives up all assets

“‘Albpetrol’ and the new company will replace the state. There will be obligations for the agreements for hydrocarbon substances”, declared the Democratic MP at the Commission of Economy, Eno Bozdo.

“Albpetrol”, which once used to have the monopoly for the extraction and production of oil in Albania, has signed seven agreements with three foreign companies.

According to the agreements, all foreign companies that have taken oil wells in concession from “Albpetrol”, will be obliged to share the production equally with the state after covering the investment cost.

But after the privatization, this part of the production will not be taken by the state, but the private company that will buy “Albpetrol”.

“We will realize two things with this: first, we will not touch the current agreements, but will give a value to the privatization process. The Albanian state will benefit, certainly, and the operation that is delegated to Albpetrol gets improved with the price”, Bozdo specified.

Albpetrol has had some preferential taxes so far, being a state company. The government decided to increase them by putting them at the same level with the taxes paid by the other societies of oil research and production, through the law amends.

The opposition gave no comment about the draft, since the MPs declared that they were informed about the law a few hours before the commission meeting started. They requested the discussion to be interrupted, but after it was rejected by the majority, the opposition left the room.

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