Abstract
This chapter contains a detailed case study of Albania. The chapter starts with an introduction and then presents the upstream, midstream, and downstream sections of the country’s oil value chain. These detailed sections provide much-needed insight into the oil sector of the country and are followed with information on Russian involvement and operations in its oil market. The chapter then concludes with an evaluation of the research indicators showing Russian activity in the oil sector of the country.
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Notes
- 1.
Oil extraction: 739,000 tonnes in 2010, 1.028 million tonnes in 2012, 1.205 million tonnes in 2013, and 1.368 million tonnes in 2014 (Albpetrol Sh.A., n.d.).
- 2.
Under Act No. 7746, the Albanian state, which owns all the oil and gas reserves in the country and is represented by the National Agency of Natural Resources, can enter into Production Sharing Contracts with state or private companies. These PSCs give exclusive rights to the state’s partner to explore and produce oil and gas within a defined perimeter for 25 years (Albpetrol Sh.A., n.d.; Popovici et al., 2012).
- 3.
In March 2016, it was announced that Bankers Petroleum Ltd. would be sold to Alberta Ltd. and Charter Power Investment Limited, both subsidiaries of Geo-Jade Petroleum Corporation, one of the largest Chinese independent oil and gas exploration and production companies. The transaction price is C$ 545 million, that is, US $442 million (“Bankers Petroleum Ltd. Enters”, 2016).
- 4.
Petromanas Energy Inc. sold all its assets to Royal Dutch Shell plc in February 2016 for US $45 million (Koleka & Weir, 2016).
- 5.
For more information about the AMBO and Burgas-Alexandroupolis projects, see the chapters on Bulgaria and Greece.
- 6.
Named after Rezart Taçi’s sister, Anika Taçi.
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List of Interviews
Interview 01: Tirana, Albania, April 21, 2016.
Interview 02: Tirana, Albania, April 21, 2016.
Interview 03: Tirana, Albania, April 21, 2016.
Interview 04: Tirana, Albania, April 21, 2016.
Interview 05: Tirana, Albania, April 22, 2016.
Interview 06: Tirana, Albania, April 22, 2016.
Interview 07: Vienna, Austria, July 14, 2016.
Interview 08: Vienna, Austria, May 5, 2017.
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Vlček, T., Jirušek, M. (2019). Albania. In: Russian Oil Enterprises in Europe. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-19839-8_4
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DOI: https://doi.org/10.1007/978-3-030-19839-8_4
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