“Stream Oil”, 35 million USD of due obligations

Top Channel has learned that Albpetrol, the public company that surveys the oil concessions, has started the procedures to break the agreement with the Canadian company Stream Oil, due to irregularities in paying the financial obligations as set by the law.

“Stream Oil” operates on four known sources of oil and gas in Albania: the Ballsh-Hekal, the Gorisht-Koculi, the Cakran-Mollaj and Delvina. But although they have been working there for several years, the Canadian company has not paid the obligations coming from the concessionary agreement, more specifically that of dividing the production.

According to confidential sources, this is about 50.000 tons of oil, 10 million cubic meters of gas and other bills for the energy that this company has benefited and which they should have paid to Albpetrol.

According to calculations, the total damage goes from 30 to 35 million USD, money that should have ended in the public budget, which the Canadian company has evaded against the law. Due to these abuses, the leaders of Albpetrol have discharged 35 employees who had the obligation to monitor the concessionary agreement”.

“Stream Oil” is a company that in the past has been reported by the former left opposition of having ties with the Democratic Party. The procedures for removing their concession make the first case when the Albanian government tries to cancel a strong concession with a strong public impact.

Top Channel