Vetro Energy is a Singapore and Houston, Texas–based operating and management company with

Rezart Taçi Rezart Taçi (born in Tirana) is an Albania Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ioni ...

as its majority shareholder. Vetro Energy targets upstream oil & gas investments worldwide. In October 2012, Vetro Energy bid to privatize the

Albania Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Seas within the Mediterranean Sea and shares ...

state-owned oil company

Albpetrol Albpetrol is an Albanian upstream petroleum production and marketing company, which also monitors state petroleum agreements in Albania. Its stock is owned by the Albanian state. The company is headquartered in Patos and has a representative offic ...

Albpetrol acquisition

On October 3, 2012, the Albania government announced, Vetro Energy won the bid for the privatization of Albpetrol, which would have given it the right to use the Albanian state-owned oil firm for the next 25 years. Vetro's bid of €850 million ($1.1 billion) for Albpetrol was rated 97.7 points by Albania's U.S. consultancy,

Patton Boggs Squire Patton Boggs is an international law firm with 42 offices in 20 countries. It was formed in 2014 by the merger of multinational law firm Squire Sanders with Washington, D.C. based Patton Boggs. It is one of the 30 largest law firms in the ...

. Other bids included offers from China's Win Business Bright Oil, and Canada's

Bankers Petroleum Bankers Petroleum Ltd. is a Chinese-owned Canadian oil company operating in Albania. History of Purchase In March 2016, Geo-Jade Petroleum made an all-cash offer of 2.20 CAD per share to purchase the company in a deal worth 575 million CAD (an ...

. After winning the bid to buy Albpetrol,

announced on November 22, 2012, Vetro Energy had completed the financing of €850 million to finance the transaction. The deal was subsequently cancelled by the Albanian government after Vetro Energy failed to pay the initial payment.

References

{{Reflist Oil and gas companies of Singapore Oil companies of the United States