ARMO oil refiner is one of the two oil refiners in Albania.[1] It owns oil refineries at Ballsh and Fier, research center, 11 depots, a small network of fuel stations, and the Vlorë Terminal located in the south coast on Adriatic sea.[2] The CEO of Armo Energy is Rezart Taci.[3] Mr. Taci is also the head of Taçi Oil[4][5]
The Ballsh refinery is the largest refinery in Albania and has a designed capacity 1 million tonnes per year. Fier refinery has a capacity of 500 thousand tonnes per year and is designed mainly to produce bitumen.
In 2008, 85% of ARMO shares was sold to the U.S-Swiss consortium Refinery Associates of Texas and Anika Enterprises SA (other companies were involved in initial talks, but did not participate in the purchase) [6] for €128.7 million.[7][8][9] Other bids were made by Petrofac, Penta Investments and Vitol.[2]
As of the fall of 2012, ARMO Energy employs over 1,500 people and has a refining capacity of 1.5 million tons with a storage capacity of 220,000 cubic meters.[10]