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Chinese investors upgrade Albania investment plan as oil prices pick up

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7 years ago
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TIRANA, Oct. 3 – As oil prices gradually pick up from the mid-2014 slump, Albania’s largest oil producer is planning to speed up its investment and drill dozens of new oil wells in foreign direct investment that could trigger more than a hundred million dollars and partly compensate for major-energy related projects already in their final investment stage. Bankers Petroleum, which has been run by China’s Geo Jade since mid-2016 when it was taken over from Canadian investors, says it has raised its 2019 investment plan to about $150 million as international crude oil prices have currently hit a four-year…

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