ARMO oil refiner

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]

References

1. "Archived copy". Archived from the original on 2009-09-09. Retrieved 2010-04-22.
2. . Benet Koleka (2008-05-21). "Four firms bid for Albania's ARMO oil refiner". Reuters. Retrieved 2009-05-16.
3. "Archived copy". Archived from the original on 2012-08-21. Retrieved 2012-10-25.
4. "Archived copy". Archived from the original on 2012-08-16. Retrieved 2012-10-25.
5. "Albanian Tycoon Shakes Up the Country's Booming Oil Market". OilPrice.com. 2012-10-15. Retrieved 2012-10-24.
6. "Anika Mercuria Oil Refinery Associated Oil Company Registration, Albania". 2008-07-02.
7. "US, Swiss investors buy an Albanian oil refiner". New Europe. 2008-06-23. Retrieved 2009-05-16.
8. "U.S. investors win control of Albania's only oil refiner". Forbes. 2008-05-21. Archived from the original on 2010-08-15. Retrieved 2009-05-16.
9. "Albania Oil Refinery Privatized". AlbanianEconomy.com. 2008-12-23. Retrieved 2009-05-16.
10. "Archived copy". Archived from the original on 2012-08-21. Retrieved 2012-10-24.