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The company Bankers Petroleum Albania has reacted after the action of the Fier Prosecutor's Office, which accuses it of evading taxes for 20 years.
In a reaction to the media, Bankers says that since 2004, they have invested $4.5 billion in the Albanian economy and have provided 83 percent of the national crude oil production.
In response, the company explains that they are committed to fully cooperating with the Albanian authorities. Bankers also adds that they are in the process of appointing a senior representative to ensure full cooperation and operational transparency.
Furthermore, it is said that the company continues to have outstanding VAT (Value Added Tax) refunds worth over $36 million with tax authorities.
Full statement
For twenty-one years, Bankers Petroleum Albania (BPAL) has stood shoulder to shoulder with Albania in strengthening its energy future. Since 2004, our operations have delivered tangible value: we have invested $4.5 billion in the Albanian economy; we have secured 83% of the country’s crude oil production; and we have supported more than 1,500 local families through quality employment. We are humbly proud to have contributed $730 million in royalties (68.9% of Albania’s total) to the development of the energy sector, $40 million to environmental protection, and $10 million to strengthening communities – a legacy we hold sacred. Meanwhile, the company continues to have outstanding VAT (Value Added Tax) refunds worth over $36 million to tax authorities.
Since our acquisition by previous shareholders in 2016, our new leadership team has embedded integrity into every aspect of BPAL’s operations. We have demonstrated our commitment to partnership through more transparent procurement, stricter compliance with laws, and a significant reduction in disputes.
In response to the recent regulatory investigations, BPAL and our parent company, BPL, are committed to fully cooperating with the Albanian authorities. We are in the process of appointing a senior representative to ensure full cooperation and operational transparency. We respect and support all legal measures to maintain regulatory and integrity standards in Albania. To date, our operations remain stable, our core team is complete, and our daily activities continue without major disruption.
We are committed to continuing to serve our customers and partners. Looking ahead, BPAL remains committed to its goal of ensuring Albania's energy stability through reliable operations, deepening roots in local employment and community investment, and honoring the trust that Albania has placed in us since 2004.
We move forward with dedication to fulfill our responsibilities to Albania with continued professionalism and accountability.
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