Petrol sector rings the alarm bell of crisis

TIRANA, June 14ؔhe Society of Petrol Intellectuals (SPI) declared on Sunday that “petrol industry is experiencing a dramatic situation and risks a real financial crisis.”
The statement was issued during a SPI meeting where problems of the sector were discussed.
“Four years ago the industry produced 340 000 thousand tones of petrol per year and forecast for 2009 is only 174 000 tones, or 50% less” Vlashi Nakuci said, one of SPI leaders, while assessing the economic and financial situation of Albpetrol, the only state owned company in the sector. “The sector employs 4700 workers who do not justify the low production and the scandalous indicators of Albpetrol.”
“Losses in 2008 amounted to 208 million Lek, by they have been kept “hidden” from authorities such as Ministry of Energy or that of Economy. The crisis became more perceivable earlier this year when employees of Albpetrol were not paid their wages for months,” Nakuci revealed.
Also, the meeting discussed the technology and methods used by companies for the underground exploration and which was described nothing short of a massacre. The current methods might be another factor pushing the sector toward a crash.
“Monitoring structures are inexistent, whether it regards methodology and environmental impact, or declared investments that are never realized,” added Nakuci.
At the end of the meeting, SPI asked for an immediate intervention in the sector and possible reform involving Albpetrol.