Government to start ARMO privatization procedure

TIRANA, Feb. 3 – The government has approved a formula for the ARMO oil company to follow as it begins privatization within the near future.
A government decision agreed upon last weekend required the Energy Ministry to begin privatization with an international tender.
Also, an international consultant company has assisted Albanian authorities during the recent months to prepare for the ARMO privatization. “This year is the one for large privatizations. The international tender will be launched February 15 for the ARMO privatization. That is an extraordinarily important decision which will create opportunities for a complete success of this privatization,” Prime Minister Sali Berisha said at the government meeting. The premier said there is an increased international interest in Albanian oil reserves and processing.