The oil extraction company in Albania, Bankers Petroleum, has admitted losing the trial with the Albanian state in Arbitration and vows to implement the decision to pay 236 million euros in damages.
Through a press release, Bankers Petrolium writes that it is committed to the "Albania 2030" Manifesto and to a long-term vision that strengthens energy security, emphasizing that "this commitment extends beyond regulatory obligations, is a solemn promise to the Albanian people and a clear support of the country's leadership, rooted in trust, accountability and strategic partnership."
We recall that a few days ago, Prime Minister Edi Rama himself called on Bankers Petroleum to pay the 236 million euros it lost in Arbitration.
Earlier, by order of SPAK, several officials and former officials of Bankers Petroleum were arrested on several charges, writes A2 CNN.
"In full compliance with national institutions and authorities, we confirm our readiness to implement, without reservations, the Decision of the International Court of Arbitration (ICC) dated June 7, 2024, upheld by the Court of Appeal of Albania (Decision No. 479, communicated on July 1, 2025). Our legal teams are fully prepared to work together with the relevant Albanian institutions to ensure the comprehensive execution of this decision, in accordance with international standards to protect foreign investments and to ensure the successful implementation of a major energy project in Continental Europe, which reflects Albania's common national and strategic interests," the Bankers Petrolium statement said, among other things.
Bankers Petroleum Press Release – August 1, 2025
Bankers Petroleum Albania Ltd. reaffirms our unwavering commitment to the “Albania 2030” Manifesto and to a long-term vision that strengthens Albania’s energy security, economic sustainability and sustainable development. This commitment extends beyond regulatory obligations, is a solemn promise to the Albanian people and a clear support of the country’s leadership, rooted in trust, accountability and strategic partnership. In full compliance with national institutions and authorities, we also confirm our readiness to implement, without reservation, the Award of the International Court of Arbitration (ICC) dated 7 June 2024, upheld by the Court of Appeal of Albania (Decision No. 479, communicated on 1 July 2025). Our legal teams are fully prepared to work together with the relevant Albanian institutions to ensure the comprehensive execution of this decision, in line with international standards to protect foreign investments and to ensure the successful implementation of a major energy project in Continental Europe that reflects Albania's shared national and strategic interests.
We are following with keen attention the criminal investigations, initiated by the Albanian authorities on 2 July 2025, concerning several valued colleagues and former employees. Throughout this process, we continue to engage openly with all competent institutions, guided by a spirit of transparency, mutual respect and respect for the law. For example, under the leadership of our Chairman of the Supervisory Board, we plan to form an external team to conduct an in-depth self-investigation for the entire period, providing close cooperation and assistance to the Albanian authorities.
We have high hopes for the integrity and fairness of the Albanian judicial system and remain hopeful that this matter will be handled with the impartiality and care it deserves. We also express our sincere desire that the current security measures affecting our team members be reassessed in a manner that protects the continuity of our operations and reinforces confidence in the pursuit of justice.
Driven by our commitment to innovation and operational excellence, Bankers Petroleum Albania is proud to reaffirm its commitment to further investing in the country’s energy future. As part of this forward-looking vision, we are strengthening our governance and preparing to launch an advanced thermal technology designed to significantly improve oil recovery, reduce production costs and strengthen the long-term sustainability of our operations. Furthermore, these improvements are expected to play a key role in supporting Albania’s broader economic development and environmental objectives, by improving resource efficiency, reducing our ecological footprint and...
operations and promoting the responsible use of energy assets. This initiative marks a bold step towards positioning Albania as a regional reference point for responsible and efficient energy development.
As we advance on all fronts, legal, operational and technological, we remain fully compliant with the laws of the Republic of Albania, the terms of our concession agreement, the ICC and applicable international standards. Our path forward is one of partnership and shared prosperity; focusing on protecting long-term investments, fostering innovation, environmental stewardship and contributing decisively to Albania’s economic growth. We see our role not only as an energy operator, but as a trusted partner in the country’s development journey, committed to progress, stability and a sustainable future for all Albanians. (A2 Televizion)
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