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Bankers closes oil wells in Albania, govt does not step back

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https://www.agenzianova.com/primopiano/9/energia-bankers-petroleum-chiude-meta-dei-pozzi-di-petrolio-in-albania-governo-non-fa-passo-indietro

Energy: Bankers Petroleum closes half the oil wells in Albania, the government does not step back

Tirana, December 2 24:21 - (Agenzia Nova) - The Canadian company Bankers Petroleum has significantly reduced the production of oil in Albania thousand barrels per day, claiming to have problems exporting. The decision came after the Albanian government said it is ready to consult the International Court of Arbitration (ICC), by refusing to comply with the Commission's decision which imposed to unblock the accounts of Canadian society in Albania. Bankers Petroleum, which has a concession to the largest oil field in Albania Patos-Marinze, said he would not be able to pay the costs and fees, and announced that it is to close its oil production. More than half of the oil wells were closed in the field of Patos-Marinze, and experts warn of possible consequences. Several oil engineers say that the wells in the closure would not only freeze the production but also damage the oil tank and all the investments made so far in the oil field.

Bankers Petroleum has said that if the government continues to block its bills over the next 2-3 days, oil production will stop. This could result in the loss of millions of dollars that will weigh on the state budget because, according to data of the Treasury at the Bank of Albania, the Canadian company pays $ 5 million a month in taxes. In the first half of the year, Bankers Petroleum has paid $ 15 million. But the Albanian government said that does not accept threats and will not allow misuse of the country's wealth. "The government is clear about the threats received from Bankers Petroleum Ltd. We welcome partners Albanians and foreigners, but national wealth is all Albanians and can not be used inappropriately, or used as a threat against the country", it was written in a statement released last night. According to the statement, "all companies operating in Albania, whether local or foreign, must respect the rules and laws of the country".

Yesterday, the Minister of Energy, Damiano Gjiknuri, did not know if the government has plans to release the bank accounts of the company, but stressed that Tirana is ready to go in front of Arbitration and the State Legal Service is working right on this. The problems started in half of this year, when the state-owned company Albpetrol has recognized Canadians $ 220 million of expenses. Based on the report, the Revenue Agency has requested $ 57 million payment, which now increased to $ 75 million considering fines and interest. The company has refused to pay, so the IRS has asked a court order to freeze bank accounts. For this reason, the Canadian company has sent the case to the International Court of Arbitration.
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