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Albanian Refining & Marketing of Oil Sh.a. (ARMO)
Main Activities: Petroleum Refineries - Petrochemical Manufacturing
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Company Information |
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Full name Albanian Refining & Marketing of Oil Sh.a. (ARMO) Headquarters Deshmoret e 4 Shkurtit Str., Sky Tower; Tirana |
Status: Non-Listed Legal Form: Limited Liability Company Operational Status: Operational Total Employees: 1,600 Tel: (+355 4) 222 16 66 |
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Company Description |
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Albanian Refining and Marketing of Oil (also trading as ARMO) was set up in 1999 as a 100% state-owned company. In 2005, the government offered 51% stake in the company for sale but the public tender procedure was unsuccessful. In 2008, the consortium comprising US-based Refinery Associates of Texas and the Swiss-based Anika Enterprises and Mercuria Energy Group acquired 85% stake in ARMO at the amount of EUR 128.75 million. The privatization contract was signed in July and was approved |
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