The revenue in the state budget has dropped from the blockade of the oil extraction industry, as well as the lack of consumption, for a value that reaches 2,5 billion lek.
Hydrocarbons director Ilia Gjermani, in the meeting of the Task Force held at the Ministry of Infrastructure, said that the drop in stock prices and the drop in consumer demand during the pandemic significantly affected production activity.
"Two negative phenomena are observed in the hydrocarbons sector. The first is the sharp drop in oil prices to historic lows. On April 15, oil prices hit $ 15 a barrel, from more than $ 55 at the start of the pandemic, and the market also faced a drop in consumer demand for hydrocarbon energy sources, primarily in the transportation sector and those industrial.
This led to the blocking of the oil extraction activity, as the oil capacity was overabundant due to the drastic reduction in demand of up to 25%, compared to a normal situation. Bankers Petroleum it produced about 1500 tons, out of 2000 tons which is the average annual production.
Albpetrol, on the other hand, produces just under half of the planned production capacity. This situation led to a significant reduction in state budget revenue.
During this period, revenue in the state budget was reduced by 2,5 billion lek, due to the reduction in crude oil production and the reduction in the consumption of its by-products. " says Gjermani for Shqiptarja.com
Deputy Customs Director Ylber Karanxha added that customs revenue following this pandemic had been reduced by 2,3 billion lek.
"The Directorate General of Customs has had to cope with a significant lack of revenue from the hydrocarbons sector and the lack of revenue reaches the figure of 2,3 billion lek. The situation has negatively affected the drop in consumption.
This is why for the March-April period alone we exported about 24 thousand tons less than last year, while in February exports were 6 tons more than in 2019. Excise revenues decreased by 1 billion lek, and VAT of 600 million lek”Said Karanxha.
Infrastructure Minister Belinda Balluku said the oil sector was the most affected, although the situation is improving.
"The oil sector is the most affected and all players today face a difficult situation. What we are trying to manage is the recovery of the sector, from the moment of oil extraction from the subsoil to the end user “Said Balluku.
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