Today: Apr 16, 2026

Arbitration threat: Albania loses $80 million in one month

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TIRANA, Feb. 12 – Albania has been ordered to pay back the country’s largest oil producer dozens of millions of dollars over a tax dispute under a decision that comes as a second consecutive blow the country’s public finances receive over the course of one month from international courts. Paris-based International Chamber of Commerce has ruled the Albanian government will have to pay back Bankers Petroleum $57 million (€46.5 mln) over a tax dispute dating back to 2011. The conflict escalated in 2015 following an audit by a government agency claiming the country’s largest oil producer had artificially increased operating…

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Prof. Dr. Alaa Garad is President and Founding Partner of the Stirling Centre for Strategic Learning and Innovation, University of Stirling Innovation Park, Scotland. He is actively engaged in health tourism, higher education and organisational learning across the Western Balkans, including the Global Health Tourism Leadership Programme in Albania.

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