Tirana, Sep. 23 (AENews) – The Albanian branch of Hellenic
Petroleum, Global Petroleum, was second in the size of debts owed to
the Durres customs. Officials from the customs claim that the company
has total unpaid duties estimated at USD 800,000.

Yesterday, the customs authorities conducted a second glamorous

blocking of 300 tons of oil estimated at USD 150,000 in customs duties.
The block in an attempt to try and collect payment of unpaid customs
duties by the company.

In a pronouncement for daily business newspaper “Biznesi”, the General
Director of the Durres customs, Arben Bajraktari said, “The Durres
district court released another executive order regarding Global
Petroleum. This situation is similar to that of Olim (Albanian oil
producing company) and regards unpaid customs duties”.

Global Petroleum has been listed second in the list of major companies
operating in the oil trade in Albania. Company revenue for 2004 were
estimated at ALL 2.66 billion (USD 26.6 million) resulting in a 9.3%
revenue growth difference compared to 2002.

In 2004, however, the company reported a loss of ALL 66.5 million.
Meanwhile, during 2004 the company was reported 10% the Albanian oil
market.

For 2004, the Albanian oil market total turnover was estimated at about
ALL 30 billion (USD 300 million). Medium earnings for oil market
companies in 2004 were reported at 1.4%.

Posted by on Sep 23 2005. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry