Swiss companies in the oil market
24/02/2012 08:45
The Washington Agreement Must Be Reactivated! 06/01 19:04
Only a few years after the Visoka oil source was given to a famous
German company, IEC Visoka, the Albanian government announced that this
source has now been given to another Swiss company, called
Transoilgroup.
The new company promises 20 million USD investments in the first year and 80 million in the next three years. The official documents were signed on 7 February 2011, while the news for the media was announced only yesterday.
According to “Shqip” newspaper, Transoil declares that they have offices in Minsk, Novosibirsk, Russia, Tirana and Siwtzerland. Their stock market value increased from 4.7 Swiss francs in February 2011 to 8.9 Swiss Francs today. Its basic capital goes to 1 million Swiss Francs. The Company has not published data about the financial result of the last years.
Visoka is an oil source discovered in 1963. The government is trying to privatize the state owned oil company, Albpetrol, but all valid assets of this company have already been transferred to other private companies, significantly increasing its value.
Many small companies have left Albania, after showing their interest for the current oil reserves. Some of them have been involved in smuggle of excise goods.
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