Albania Oil Refinery Privatized
Business, Economy, Invest-Inform, Top News Tuesday, December 23rd, 2008
Tirana – Anika Enterprises, Refinery Associates of Texas & Mercuria Energy Group, that early this year won a public tender for the oil refinery ARMO, declared on Tuesday that they have paid the sum of 128.7 million euro to the Albanian government.
The new CEO of the consortium, Rezart Taci, said in a press release that will increase salaries by 30 per cent immediately and will begin the promised investments early in 2009.
Early this month, Ministry of Economy, said that it have signed the final agreement, with the US-Swiss group who won a tender for a 85 percent stake of the refiner on June 9.
The buyers have promised 240 million euro in investments.
Build back on ’70 as a state owned enterprise, ARMO refines domestic crude oil. Four companies, three of which are foreign private investors work in oil extraction industries in Albania.
Albania has 200 million barrels of proved oil reserves.
Short URL: http://www.albanianeconomy.com/news/?p=1375
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The truth is, those companies, who bought ARMO, is “bogus” (false) companies. There is no money transaction. The companies who bought ARMO, might have been registered at the time of transaction.. but its a cover for the funnel of cleaning ownership from one man into a corporate environment. Those 3 comapnies dont have 100,000.00 usd cash but they paid 130,000,000.00 eur.. such an infusion into a small country like Albania would have been seen. This is just another scam by Sali B people and they get away with it as long as the Blair family is around sucking money from poorest people in Europe.