TIRANA, Nov. 4 – Albania’s is one of Europe’s top ten largest producers of crude oil, which makes it one of the least energy dependents, according to a recent report published by Eurostat, the statistical office of the European Union.
The report examining 39 countries, among which the EU 28, four EFTA countries and seven EU aspirant countries, shows that with an annual primary production of crude oil production of 1.1 million tonnes of oil equivalent in 2013, Albania was the ninth largest producer on par with The Netherlands.
Among regional EU aspirants only Serbia and Turkey have a bigger production, at 1.2 and 2.5 million tonnes of oil equivalent respectively excluding natural gas liquids.
Norway is Europe’s largest oil producer with 74.9 million tonnes of oil equivalent in 2013 followed by the United Kingdom with 39.6 million tonnes.
Thanks to its huge oil and renewable hydro-electricity production, Albania is one of Europe’s least dependant countries on energy imports.
Data shows Albania’s energy dependency, which shows the extent to which an economy relies upon imports to meet its energy needs, was at 25 percent in 2013.
Oil accounted for 58 percent of Albania’s primary production by energy type in 2013 followed by renewable sources with 41.4 percent and gas with 0.7 percent.
Albania’s huge renewable electricity production is a result of dozens of hydropower plants, the largest of which are managed by state-run KESH power corporation.
Meanwhile, oil production is a result of Canada-based Bankers Petroleum, the country’s biggest foreign investor, which since 2004 operates and has the full rights to develop the Patos-Marinza and Kuà§ova heavy oilfields under a 25-year concession contract with the Albanian government.
