“Albpetrol” sells 167.000 tons of oil
29/12/2016 00:00
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“Albpetrol” sold 167.000 tons of crude oil in the internal market, with a
total value of 45 million EUR, in what can be considered as one of the
biggest public bids ever held in the past years.
The company reported that they sold the oil with 70.48% of the Brent price in international markets, which was the minimal level, based on the conditions of this bid.
Albetrol put on sale the Patos-Marinza oil with a price 25-30% lower than the one in international markets, since the Albanian oil is considered of having a lower quality.
The only company that was part of the bid was “Porto Romano Oil”, which also won.
This was an effort of Albpetrol to sell the oil. The first auction was held in October, but it failed due to the lack of bids. This time the auction commission reduced the minimal sale price from 72% to 70.4%.
The only state owned oil company is facing a bad financial situation this year, due to the lower oil price in international markets. This auction is expected to improve their balances, and even bring profit to the state budget.
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