Bankers, 20-year loss-making activity - Engineer raises the question: If there are losses, why are you asking for a contract extension?
Even petroleum engineer Fatmir Shehu believes that the company Bankers Petroleum has committed tax evasion in our country, due to the fact that despite resulting in losses, it has continued its activity in our country.
The oil company, Bankers Petroleum, has been involved in an investigation by the prosecution on charges of tax evasion for 20 years. Petroleum Engineer, Fatmir Shehu, stated in the TV Scan studio that oil is a strategic national asset that develops the economy.
According to him, the mere fact that Bankers has requested an extension of the contract for another 5 years is enough to make you think it was profitable. However, through artificially inflating expenses, it has avoided tax obligations, causing millions of euros in damage to the state budget.
"The company is requesting an extension of the deadline. This is a signal that shows that if Bankers requests an extension of the deadline, it is not in terms of loss, but in terms of profit. The biggest problem, I think, is in the contract. It is accepted that the investments will be repaid within a year. For example, they drill wells and invest 100 million dollars. Then, from the oil they sell within this year, they will cover these 100 million dollars ," said Shehu.
Mr. Shehu also stated that Albania has large oil reserves, which can be extracted at a low cost to be competitive in the market. According to him, the time has come for Albania to build oil refineries, so that processing can be done locally.
"We have a lot of oil, I say this with competence. We need to put Albpetrol to work, to function in the most optimal conditions. Let's just look at Albpetrol's sisters in Serbia or Greece, let's not go further to the Middle East. They are very aggressive. Greece has very few oil reserves, but has a processing capacity of about 32 million tons. It imports it crude, processes it and gets the added profit ," declares engineer Shehu.
Bankers Petroleum may have also benefited from the terms of the contract, because according to the agreement, once the investment costs were covered, the company had to pay 50% tax on the net profit. Officially, the company states that the investment costs have not yet been recovered, but financial data and the investigation by the Tax Administration, in cooperation with the Fier Prosecutor's Office, show the opposite.
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