
In the show Money on Euronews Albania, the discovery of oil in Shpirag was examined, but a chronology of the problems that our country has encountered in relation to oil concessions was also made.
Enthusiasts and disbelievers! Such are the people today, while on the horizon, for the first group, the plans of a locomotive that transports the oil coming out of Shpiragu are visible, while for the second group, the train is there, but the tracks are missing.
"The word oil in the minds of Albanian citizens has become synonymous with the word theft...
In fact, the concessions made in the past have been scandalous. They were practically a total surrender of sovereignty and the right of the people to take their share in this wealth", said Prime Minister Rama in his press statement when he presented the discovery of the oil reserves in Shpirag.
Meanwhile, the economist Pano Soko said that today Albania only earns taxes from oil, while it should benefit much more, including the price reduction for Albanian citizens.
"If today we are forced to benefit only from the mineral rent, this is the alarm bell that wakes us up for everything that has happened in the rest of the chain of the oil industry. Taking advantage of oil taxes is like having a computer and using it as a calculator. We would have to benefit much more from oil. Albanian citizens should benefit from cheaper oil at gas stations", said Soko.
The full contract that the government signed with the Shell company differs from the concession contracts signed over the years for the use of oil. Until today, the companies that have operated in the Albanian market during the last 3 decades, both those that have exited the market, as well as those that continue to extract and sell oil, have brought into the state coffers only 1 tenth of the money they collect. And with the quantity that has come out and the quality that it carries, Albanian oil has given almost nothing to the economy.
"Shell's contract is currently an exploration contract, which includes the development part," said Soko.
While the expert on energy management, Stavri Dhima, said: "Contracts are therefore called agreements. They are a kind of compromise to guarantee the win-win principle so that both parties win, because the company cannot win and the state lose, and the state cannot win and the company lose. Of course, over the years, state contracts with companies have significantly improved".
After 2015, the government asked to establish a rule, where tax is paid from the first barrel that will be sold. So, in addition to the 10% royalty that is paid, any company that uses our oil will pay bonuses based on the amount it produces. And if Shell starts selling, the rewards will come.
"We have a production bonus that is 250 thousand dollars with the production of the first barrel; 750 thousand dollars when production reaches 15 thousand barrels; $1.5 million when production reaches 30,000 barrels per day, plus all other bonuses. What is most important for the government is the grant of the R factor that will be applied from the beginning of this contract", declared Minister Belinda Balluku when the discovery of the oil reservoir in Shpirag was presented.
"In case Shelli decides to invest in Shpirag, from the first moment of extraction of each kilogram of oil that will be sold, SHELLI will pay 10% royalty. For the profit-tax, it will be expected to recover the costs and then the profit that the company will have after all the costs have been recovered, SHELLI will be taxed 50% profit-tax", said Soko. / Euronews Albania
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