During the presentation of a 9 months report (January-September), Albpetrol announced that revenues from sales reached more than 90 billion ALL, a considerable increase of revenues compared to the same period of a year before.
As stated in their press release, the public enterprise of extraction and sale of hydrocarbons has deposited in the state budget $35 million only in this 9 months period, about $12 million more than a year before. “The increase of revenues of Albpetrol has contributed in the increase of state budget revenues as well as has made possible the repayment of $10 million outstanding debts to OSHEE, inherited debts since 2008”, is stated in Albpetrol’s press release.
A significant indicator that explains the increase of revenues of the company relates to the reduce of losses per tons. Regarding to this, the company has shown the best performance in 24 years, since the company has predicted that losses for this year to be no more than 650 tons of oil. Only during 2013, the company declared a 7259 tons of oil loss at a value of $4 million.
Albpetrol’s increase of revenues is very high compared to the same period of 2013 (January-September), at which the amount of incomes collected was $46 million less.
News source/photo credits: ATA