After protesting in front of the ARMO offices and the Parliament
building, the Ballsh oil workers held another protest this Friday in
front of the Prime Minister’s office.
The workers protest because they have not been paid for 10 months. Since August 2015, Armo has been managed by an Azerbaijani company, the biggest shareholder of the refinery.
The Minister of Energy said that a solution can be found by restructuring the enterprise. The state, according to the Minister, must see what they will concede, but the process is very difficult.
The Azerbaijani company that owns 85 of the shares, “Heany Assets Corporation”, continued the company of Rezart Taci but they closed it in August 2015 due to a financial collapse. The other 15% is owned by the government of Albania.
ARMO is the worst creditor in Albania with 600 million USD of debts, mainly from foreign and local banks. They also have a 50 million USD debt to the Tax Office and 30 million USD to Albpetrol.
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