|
SYS-CON.TV Webcasts
Comments
Did you read today's front page stories & breaking news?
SYS-CON.TV
|
Today's Top SOA Links
From the Wires
Progress on the Privatisation of Albania's State Oil and Gas Company, Albpetrol
By: PR Newswire
Dec. 11, 2012 01:51 AM
TIRANA, Albania, December 11, 2012 /PRNewswire/ -- Vetro Energy has confirmed that it has been asked to submit a performance guarantee in connection with its negotiations for the acquisition of Albania's State Oil and Gas company, Albpetrol. The requested guarantee is for 20% of the consideration. Vetro Energy further confirms that, although there is still significant work ahead and a guarantee of this nature is customarily submitted only after a formal contract is signed, it is prepared to provide such a performance guarantee. Mr. Rezart Taci (http://www.rezarttaci.com), the majority shareholder of Vetro Energy, stated: "We have requested a number of additional documents from the Government, which we require. In response the Government has asked for a performance guarantee, which Vetro Energy is pleased to provide, and will be in place within the next few days. These are complex discussions and there is a great deal of detail involved. The delay is not entirely surprising in such circumstances, and I am very confident that we will finalize negotiations and reach a successful conclusion." About Vetro Energy is a Singapore and Houston, Texas based operating and management company. Vetro Energy targets upstream oil & gas investments worldwide. For more information, please visit: http://www.vetroenergy.com. Project Associates - +44(0)207-432-3216 SOURCE Vetro Energy Web 2.0 Latest News
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
|
SYS-CON Featured Whitepapers
Most Read This Week
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||