ARMO oil refiner explained
ARMO oil refiner is one of the two oil refiners in Albania.[1] It owns oil refineries at Ballsh and Fier, research center, 11 depots, a small network of fuel stations, and the Vlorë Terminal located in the south coast on Adriatic sea.[2] The CEO of Armo Energy is Rezart Taci.[3] Mr. Taci is also the head of Taçi Oil[4] [5]
The Ballsh refinery is the largest refinery in Albania and has a designed capacity 1 million tonnes per year. Fier refinery has a capacity of 500 thousand tonnes per year and is designed mainly to produce bitumen.
In 2008, 85% of ARMO shares was sold to the U.S-Swiss consortium Refinery Associates of Texas and Anika Enterprises SA (other companies were involved in initial talks, but did not participate in the purchase) [6] for €128.7 million.[7] [8] [9] Other bids were made by Petrofac, Penta Investments and Vitol.[2]
As of the fall of 2012, ARMO Energy employs over 1,500 people and has a refining capacity of 1.5 million tons with a storage capacity of 220,000 cubic meters.[10]
Notes and References
- Web site: A.R.M.O. Sh.a. - Albanian Refining & Marketing of Oil . 2010-04-22 . dead . https://web.archive.org/web/20090909071258/http://www.armorefinery.com/index.php?id=3&PHPSESSID=97c60fe94749e0471508b73fc652ce1b . 2009-09-09 .
- .News: Four firms bid for Albania's ARMO oil refiner . Benet Koleka . . 2008-05-21 . 2009-05-16.
- Web site: A.R.M.O. Sh.a. - Albanian Refining & Marketing of Oil ~ Message from the CEO . 2012-10-25 . dead . https://web.archive.org/web/20120821115734/http://www.armorefinery.com/about-armo/message-from-ceo/ . 2012-08-21 .
- Web site: Message from Taci Oil CEO Rezart TaciTaçi Oil, International . 2012-10-25 . dead . https://archive.today/20130203220833/http://taci-oil.com/about-taci/message-from-ceo/ . 2013-02-03 .
- News: Albanian Tycoon Shakes Up the Country's Booming Oil Market . OilPrice.com . 2012-10-15 . 2012-10-24.
- Web site: Anika Mercuria Oil Refinery Associated Oil Company Registration, Albania. 2008-07-02.
- News: US, Swiss investors buy an Albanian oil refiner . New Europe . 2008-06-23 . 2009-05-16 . dead . https://web.archive.org/web/20110722033239/http://www.neurope.eu/articles/88042.php . 2011-07-22 .
- News: U.S. investors win control of Albania's only oil refiner . Forbes . 2008-05-21 . 2009-05-16. https://web.archive.org/web/20100815063756/http://www.forbes.com/feeds/afx/2008/05/21/afx5035622.html. 2010-08-15.
- News: Albania Oil Refinery Privatized . AlbanianEconomy.com . 2008-12-23 . 2009-05-16 . dead . https://web.archive.org/web/20110903155915/http://www.albanianeconomy.com/news/2008/12/23/albania-oil-refinery-privatized/ . 2011-09-03 .
- Web site: A.R.M.O. Sh.a. - Albanian Refining & Marketing of Oil ~ About ARMO . 2012-10-24 . dead . https://web.archive.org/web/20120821115723/http://www.armorefinery.com/about-armo/ . 2012-08-21 .