Albania: Oil company Albpetrol sells crude oil to Porto Romano oil terminal

1. March 2016. / SEE Energy News

Albpetrol company successfully organized the auction for sale of 30,000 tons of crude oil. Official sources claimed that all oil is acquired by the Porto Romano oil terminal.

In the auction of crude oil is sold 69.54% of brent – 3.53dollare / barrel + K (K = 0.1USD / barrel where (Brent indicator is published in the bulletin of the Public Procurement Agency. 69.54% is the coefficient representing characteristics physico-chemical medium oil for the amount of 30,000 tons (specific weight, oil acidity,% sulfur). – 3.53 USD / barrel average total cost transport, storage. – K-value USD / barrel offered by the bidder over minimum sales price calculated from the formula (K≥0).

Taking into account this formula the value of oil sold at prices today the stock is 3.5 million dollars, but sources close to the company Albpetrol explain the sales value can not be determined at the time of the auction, as the price calculated in the moments that the buyer gets oil by Albpetrol deposits. Since the withdrawal of the amount of deposits may continue for many months, benefiting Albpetrol final value can not be calculated at this moment.

Crude oil Location Albpetrol sha is the delivery points of Bankers HUB Fier, Kucove Station, Station Usoje, 16/1 (ARMO) Ballsh, Zharrëz Station, Station Sheqishte, Gorisht station.

Albpetrol price per barrel that has benefited from the auction is close to the price it receives for selling the company Bankers Petroleum crude oil.

Bankers Petroleum has sold an average of 17.67 dollars barrel or 58% of Brent, while Albpetrol has sold 17.9 dollars a barrel, transmits Serbia-energy.eu

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