Albania: Reduces oil production due to decreased demand, SEE Energy News
As demand decreases due to coronavirus outbreak, the largest oil producer operating in Albania Canadian-Chinese oil producer Bankers Petroleum, has reduced its output.
According to local media, Bankers was forces to reduce oil production because its main buyer, a Spain-based company has halted operation. The company did not provide any details regarding the scope of output reduction.
Canada-based Bankers Petroleum is present in Albania since 2004. In 2016, the company was purchased by Chinese exploration and production corporation Geo-Jade Petroleum. Bankers Petroleum earns all of its oil revenues in Albania, where it operates and has the full rights to develop the Patos-Marinza oilfield, has a 100 % interest in the Kucova oilfield, and a 100 % interest in exploration Block F – all situated in the southwestern part of the country.
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