Interestingly enough, the gas sector once played an important role in Albania and the country was a relatively large gas producer. In 1982, gas production amounted to one billion cubic metres but has now dropped to mere 0.01 billion cubic metres. It is worth noting that Albania and Kosovo are the only countries in the […]
Canada-based Bankers Petroleum said on August 29 it has finally resolved a tax dispute with the Albanian government and it will be reimbursed for “excessive payments” made to the Albanian tax authorities. The binding third-party audit report on the 2011 tax dispute said that Bankers “correctly stated its 2011 expenses as cost recoverable”, Bankers said in a statement. In February Bankers, […]
IFC, a member of the World Bank Group, and the Albanian Ministry of Energy and Industry have signed a Memorandum of Understanding designed to establish the day-ahead electricity market in Albania, bolster country’s electricity supplies and better connect it to the rest of Europe. IFC will advise the Albanian government on the creation of the […]
China Claus is coming to town! For better or for worse, Chinese companies are replacing traditional European investing partners — namely Italy and Turkey — and helping to develop a country in dire need of modernization, particularly if it wants to move from its European Union candidacy status to a full blown member in the foreseeable future. […]