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Competition Authority launches inquiry against Bankers Petroleum

Competition Authority launches inquiry against Bankers Petroleum

The Competition Authority has launched an inquiry to establish whether Bankers Petroleum has abused its dominance of oil production and trading, following complaints from refiners. Bankers Petroleum began exploration in Albania in 2004 and was bought from its Canadian owners by China’s Geo-Jade Petroleum Corp in 2016.

“The behaviour of Bankers Petroleum Albania Ltd could constitute an abuse of its dominant position in the market,” the Authority said, adding that it will examine the company’s activities from 1 January 2016 to the end of October this year. The investigation was triggered when domestic refiners Tosk Energji and Al.Global Oil complained to the authority last December.

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