Albpetrol privatisation: Vetro Energy tender annulled in 2013
Status: Tender annulled in February 2013. No criminal case found in the sources reviewed.
Summary
The 2012 tender to sell the state oil company Albpetrol was won by Vetro Energy, a consortium with an offer reported at EUR 850 million. Rezart Taci is reported to own 51% of Vetro Energy, a stake reportedly revealed only after the award (Wikipedia; search summaries). Vetro had to pay a 20% guarantee of EUR 170 million. The government invalidated the bid on 8 February 2013 after the consortium missed the down payment (SeeNews headline on the guarantee failure; Oilprice). Some Albanian outlets reported that the guarantee was later paid, but the deal was cancelled. Oilprice's headline attributes the annulment to corruption; the sources reviewed describe the process as opaque and criticised by all sides, with no criminal finding found.
Key facts
- Vetro Energy offer reported at EUR 850m, more than twice the second-highest bid (search summary).
- Required down payment of EUR 170m (20%) not met within the deadline; bid invalidated 8 February 2013 (search summary).
- A later Albpetrol round tried to sell the company for 100%, then the government re-launched privatisation in 2015-16 (search summaries).
What is proven
Established by documents or official records, as stated in the research. A recorded charge or indictment proves only that the accusation was made.
- The bid was invalidated after the consortium did not pay the required guarantee (SeeNews headline; government decision as reported).
What is alleged
Accusations, not findings. Those accused are presumed innocent.
- Corruption or favouritism in the award. Not established in sources reviewed.
Allegations and who made them
- Oilprice headline: corruption led to the Albpetrol privatisation annulment (opinion-style source; no official finding).
Open questions
- Whether SPAK or the prosecution ever investigated the 2012 tender (not found).
- Primary text of the 2013 government decision and the 2012 tender documents.
Responses
Responses of the people and organisations concerned, as recorded.
- Government/Ministry: the Ministry explained the failure of Vetro's deal (Top Channel headline 'Albpetrol, Ministry: why Vetro failed'; text not retrieved). Vetro/Taci response: not found.
Figures
Money trail →Vetro Energy offer for Albpetrol
€850,000,000
tenderSource label: Officially reportedStated by an official body (SPAK, a court, the Ombudsman, a prosecutor). An accusation is verified only as an accusation.Stated definition: Offer, not a completed payment. Figure from search summaries (Tirana Times and Top Channel coverage); not confirmed on an opened page.
Date: Oct 2012 · Payer: Vetro Energy (consortium) · Payee: Albanian state (seller)
- Vetro Energy fails to put down guarantee for Albpetrol deal, econ min (opens in a new tab)SeeNews · Feb 2013 · journalism · EN
Required 20% contract guarantee (down payment)
€170,000,000
otherSource label: Officially reportedStated by an official body (SPAK, a court, the Ombudsman, a prosecutor). An accusation is verified only as an accusation.Stated definition: 20% of the EUR 850m bid per search summary. Reports conflict on whether it was paid; the government invalidated the bid on 8 Feb 2013 after the deadline passed.
Date: 8 Feb 2013 · Payer: Vetro Energy · Payee: Albanian state
- Vetro Energy fails to put down guarantee for Albpetrol deal, econ min (opens in a new tab)SeeNews · Feb 2013 · journalism · EN
Timeline
Full timeline →Government
Government invalidates Vetro Energy bid for Albpetrol
After the consortium failed to pay the required EUR 170m guarantee on time, the government invalidated the bid (search summary; SeeNews headline).