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KLSH: Albpetrol does not implement recommendations, over 14.4 million dollars in missing revenue from crude oil
2026-01-20 12:50:50 / EKONOMI&SOCIALE
The Supreme State Audit Office, within the framework of verifying the implementation of recommendations given from previous audits in 2023, has audited 10 public entities, finding a very high formal level of acceptance of recommendations (98%), but a significantly lower level of their actual implementation.
Of the 465 measures received, only 36% have been fully implemented, while 24% are still unimplemented, with a significant financial burden, especially in measures related to lost income, compensation for damage and disciplinary liability. This situation indicates serious problems in the effective follow-up of recommendations and in the managerial accountability of the audited entities.
Non-payment of energy and uncollected interest: financial risk of millions for Albpetrol
According to the latest data published by the Albanian Supreme Audit Institution (KSAI) , Albpetrol sh.a. is identified as one of the problematic entities due to the non-implementation of recommendations with direct financial impact. The KSAI finds that the company has not taken legal action to collect about 1.2 billion lek from the company BPA LTD, an amount created by the non-payment of electricity consumption and the corresponding interest on arrears, an obligation that Albpetrol pays on behalf of “FSHU” sh.a.
During the period 2021–2022, the company B…M did not make payments for electricity, resulting in the maturity of penalties and late payment interest in favor of Albpetrol sh.a Patos. In 2022, Albpetrol took administrative and legal action, securing court decisions as executive titles for unpaid invoices, as well as an executive title for the penalty invoice.
The interest on arrears has been calculated by Albpetrol according to Law No. 48/2014, but this calculation results in a lower rate compared to the interest on arrears applied by OSHEE sh.a. for Albpetrol's unpaid invoices, causing economic damage to the company.
From the audited documentation it results that Albpetrol sh.a has requested interest on arrears from B…M in the amount of 175,458,324 lek, while Albpetrol's obligation to FSHU sh.a for interest on arrears, according to the relevant contracts, amounts to 1,356,345,939 lek, evidencing a significant inequality in the treatment of interest on arrears and a considerable financial exposure for the company.
Accumulated liabilities in crude oil and missing revenues for Albpetrol
Likewise, the SAI notes that the recommendation regarding the withdrawal of a quantity of crude oil originating from the Hydrocarbon Agreement remains unimplemented.
According to the audit findings, the contractor “B…...” had obligations to Albpetrol in crude oil on behalf of P….., in implementation of the Hydrocarbon Agreement. For the year 2021, from the data made available, it is found that the obligation of the company “B…...” to Albpetrol sh.a Patos in crude oil, on behalf of P….., is 24,939.596 tons of crude oil. During this year, Albpetrol sh.a Patos has withdrawn on behalf of P….. only 21,100.41 tons of crude oil, which means that about 3,839.186 tons of crude oil less than the obligation for the year 2021 have been withdrawn.
Following this history, the company “B…..,” has submitted the calculation of the R Factor at the end of the fourth quarter of 2021, where according to the calculations submitted, the R Factor for the “Main/Kryesore” area results to be greater than 1 (one) at the end of this quarter. Consequently, in accordance with the Hydrocarbon Agreement “On the Development and Production of Hydrocarbons in the Patos-Marinëz Field”, as amended, starting from the fourth quarter of 2021, Albpetrol’s Production Share (PPA) should no longer be calculated at the level of 1%, but at 3% of the available oil.
The problem has deepened further during 2022. From the audited data, it results that for this year the obligation of the company “B…..” to Albpetrol sh.a Patos in crude oil, on behalf of P….., is 29,884,163 tons of crude oil. Meanwhile, Albpetrol has withdrawn only 14,407,612 tons of crude oil, creating a difference of about 15,476,551 tons of crude oil less than the obligation for 2022.
In total, for the period from the effective date of the agreement until 31/12/2022, the obligation of the company “B…..” to Albpetrol sh.a Patos in crude oil, on account of the Pre-Existing Production (PPE) and the Albpetrol Share (PPA), amounts to 78,915.002 tons of crude oil, with a value of 39,247,000 USD. According to the SAI, these actions have led to a decrease in Albpetrol's income, as the amount of crude oil has not been withdrawn due to storage impossibilities.
Among the unimplemented recommendations is the measure taken by the administrator of the company Albpetrol sh.a Patos to withdraw the quantity of 29,103.96 tons of crude oil, on behalf of the Pre-Existing Production (PPE) and the Albpetrol Share (PPA) created from the effective date until 31.12.2022, setting as priorities that during the planning of the sale of crude oil through auction procedures, to determine large quantities of oil obtained from the hydrocarbon agreement. The value of the quantity of 29,103.96 tons at the sales prices of the period 31.12.2022 is 14,476,000 USD and constitutes missing income for the company. / Ekofin.al
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