ARMO has one refinery at Ballsh, a smaller one at Fier and a small network of fuel stations selling motor oil and products
Fifteen foreign firms have shown interest in buying 85% of Albania’s oil refiner ARMO. The bids are due to be opened on May 21 and a contract signed by June.
ARMO has one refinery at Ballsh, a smaller one at Fier and a small network of fuel stations selling motor oil and products.
The potential buyer -- a single company or consortium -- should be an oil and gas sector specialist with at least three years experience, a share capital of ?55 million and certifications of international production standards.
The winner of the tender will be determined according to a points system, where three-quarters of the total points are given according to price, and one quarter for each suitor’s business and investment plan.