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Chinese investors upgrade Albania investment plan as oil prices pick up

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TIRANA, Oct. 3 – As oil prices gradually pick up from the mid-2014 slump, Albania’s largest oil producer is planning to speed up its investment and drill dozens of new oil wells in foreign direct investment that could trigger more than a hundred million dollars and partly compensate for major-energy related projects already in their final investment stage. Bankers Petroleum, which has been run by China’s Geo Jade since mid-2016 when it was taken over from Canadian investors, says it has raised its 2019 investment plan to about $150 million as international crude oil prices have currently hit a four-year…

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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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