TIRANA (Albania), January 29 (SeeNews) – Albania's government is drafting options for the restructuring of Albpetrol in order to cut costs at the state-owned oil and gas company, Albpetrol said.
An inter-ministerial group of experts is studying the best scenarios for restructuring the company, Albpetrol said in a press release on Saturday.
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The government intends to sell some of the company’s assets and cut staff numbers as part of the restructuring process, energy and infrastructure minister Damian Gjiknuri said in November 2017.
Albpetrol currently employs around 2300, according to information from the corporate website.
Albpetrol closed 2016 with a net profit of 1.5 billion leks ($14 million/11.2 million euro), according to the company's last audited annual report.
(1 euro = 133.229 leks)