ARMO oil refiner
ARMO oil refiner is one of the two oil refiners in Albania. It owns oil refineries at Ballsh and Fier, research center, 11 depots, a small network of fuel stations, and the Vlorë Terminal located in the south coast on Adriatic sea. The CEO of Armo Energy is Rezart Taci. Mr. Taci is also the head of Taçi Oil
The Ballsh refinery is the largest refinery in Albania and has a designed capacity 1 million tonnes per year. Fier refinery has a capacity of 500 thousand tonnes per year and is designed mainly to produce bitumen.
In 2008, 85% of ARMO shares was sold to the U.S-Swiss consortium Refinery Associates of Texas, Anika Enterprises SA and Mercuria Energy Group for €128.7 million. Other bids were made by Petrofac, Penta Investments and Vitol.
As of the fall of 2012, ARMO Energy employs over 1,500 people and has a refining capacity of 1.5 million tons with a storage capacity of 220,000 cubic meters.
- . Benet Koleka (2008-05-21). "Four firms bid for Albania's ARMO oil refiner". Reuters. Retrieved 2009-05-16.
- "Albanian Tycoon Shakes Up the Country's Booming Oil Market". OilPrice.com. 2012-10-15. Retrieved 2012-10-24.
- "US, Swiss investors buy an Albanian oil refiner". New Europe. 2008-06-23. Retrieved 2009-05-16.
- "U.S. investors win control of Albania's only oil refiner". Forbes. 2008-05-21. Retrieved 2009-05-16.
- "Albania Oil Refinery Privatized". AlbanianEconomy.com. 2008-12-23. Retrieved 2009-05-16.
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