Oil companies lead top 10 turnover list

TIRANA, Sept. 17 – Oil and energy companies continued dominating the top ten list of the companies with the highest turnover in Albania in 2013. The list includes three oil companies, two-state run electricity companies, two banks, a mobile company and a steel plant.
Canada-based Bankers Petroleum which operates the Patos-Marinza heavy oilfield in southwestern Albania and is the country’s largest foreign investor continued leading the top 10 companies in terms of turnover for the second year in a row, according to data obtained from the tax administration by local media.
Data published by Monitor weekly business magazine shows Bankers Petroleum increased its turnover by 29 percent to 67.7 billion lek (Euro 474.7 million) in 2013. Canada-based Bankers Petroleum posted record profits of around 62 million dollars in 2013, almost double compared to the previous two years on higher production and oil prices, the company said in its 2013 financial results.
Second ranks Kastrati, with its retail and wholesale arms, which posted around 64 billion lek (Euro 448 million), up 35 percent compared to 2012.
State-run CEZ Shperndarje electricity distribution and KESH Power Corporation rank third and fifth largest companies in terms of annual turnover although continuing posting significant losses due to massive power thefts.
Turkish-owned BKT bank and Kurum steel plant ranked fourth and sixth in the top-ten list.
Europetrol oil company ranked seventh followed by Raiffesisen Bank and Vodafone Albania. Marketing Distribution, a company involved in imports and distribution closes the top ten list with around 15 billion lek (Euro 107 million) in turnover.
Taci Oil International, a company run by Albania’s Rezart Ta詠dropped to 23rd in 2013, down from fifth in 2012 after the ARMO oil refiner was taken over by an Azerbaijan-based company in mid-2013.