Ownership as documented
Publicly listed company; ownership structure not analysed here.
Description
Operator of the Patos-Marinza oilfield under a 25-year concession since 2004 (per Tirana Times). Party to an ICC cost-recovery arbitration decided in Albania's favour in June 2024, and to tax and fraud-probe reporting.
Contracts and money
- Public contract→Patos-Marinza oil concession: Bankers Petroleum arbitration and cost recoverySource label: Verified
Operator under 25-year concession
Evidence: Tirana Times: Bankers has operated Patos-Marinza under a 25-year concession since 2004.
Figures recorded for the cases linked to this organisation. A figure here is not necessarily paid to or by this organisation; check payer and payee.
Contested cost-recovery claims rejected by ICC (reimbursement obligation)
€220,300,000
otherSource label: VerifiedStated definition: SeeNews: contested costs above USD 236m rejected. A separate summary gives EUR 220.3m. Currency basis unreconciled; the amount is the costs claimed by Bankers, not a damage award.
Date: Jun 2024 · Payer: Bankers Petroleum · Payee: Albanian state (Ministry of Energy, Albpetrol)
- ICC rules in favour of Albania in Bankers Petroleum dispute Albpetrol (opens in a new tab)SeeNews · Jun 2024 · journalism · EN
Alleged state damage through fraudulent VAT claims (Bankers Petroleum Albania)
No amount recorded
Incomplete figurelossSource label: Under investigationStated definition: 'Several million euros' (prosecutors' preliminary findings, as reported); 'over 11 million euros' (another outlet). Incomplete; not confirmed by a court.
Date: Jul 2025 · Payer: State budget (alleged loss) · Payee: Bankers Petroleum Albania (alleged)
- bankers petroleum nën hetim dyshohet se për 20 vite shmangu taksat (opens in a new tab)Citizens.al · 4 Jul 2025 · journalism · SQ
Bankers Petroleum owed to Albanian state after arbitration (headline figure)
No amount recorded
Incomplete figureotherSource label: Officially reportedStated definition: Headline: 'Bankers owes Albanian state USD 236 million, ready to implement arbitration decision'. USD figure only; EUR not converted; ICC order reported June 2024. Incomplete: the exact breakdown was not opened.
Date: Jun 2024 · Payer: Bankers Petroleum · Payee: Republic of Albania
- I detyrohet 236 mln dollare shtetit shqiptar; Bankers gati te zbatojme vendimin e arbitrazhit (opens in a new tab)Shqiptarja.com · unknown · journalism · SQ
- ICC rules in favour of Albania in Bankers Petroleum dispute (SeeNews) (opens in a new tab)SeeNews · Jun 2024 · journalism · EN
Declared losses and sales in tax probe (conflicting figures)
11,700,000,000 lek
Incomplete figureotherSource label: UnverifiedStated definition: One report (Citizens.al, July 2025) gives declared annual losses of ALL 11.7 bn against sales and exports 2004-2024 of ALL 532 bn. Another outlet gives ALL 117 bn. Figures conflict; allegations only. Incomplete.
Date: Jul 2025 · Payer: Bankers Petroleum Albania · Payee: Not applicable (tax base)
- Bankers Petroleum nen hetim: dyshohet se per 20 vite shmangu taksat (opens in a new tab)Citizens.al · 4 Jul 2025 · journalism · SQ
- Albania issues arrest warrants in tax, money laundering probe targeting Bankers Petroleum (opens in a new tab)Intellinews · Jul 2025 · journalism · EN
Officials and people linked
CEO of Bankers Petroleum Albania (reported)
Evidence: Shqiptarja and intellinews name Xiao as the company's CEO in the 2025 probe.
Investigations and cases
- Investigation→Special Prosecution Against Corruption and Organized Crime (SPAK)Source label: Officially reported
Fier case sent to SPAK
Evidence: Balkanweb headline: Fier prosecution declared incompetence; the Bankers case goes to SPAK.
Sorted by reported money, then by linked people and their legal status. The money figure is the largest single reported figure, not a total.
From 2004
Patos-Marinza oil concession: Bankers Petroleum arbitration and cost recovery
Bankers Petroleum has operated the Patos-Marinza field under a 25-year concession since 2004 (per Tirana Times). Disputes with the Albanian state include a tax arbitration (referred 2013; an ICC…
Status: ICC cost-recovery award of June 2024 for Albania. Later tax settlement reported (date unclear). Concession nearing expiry per reporting. Fraud-probe status…
From 4 Jul 2025
Bankers Petroleum Albania: 2025 tax-evasion and money-laundering probe (Fier prosecution, later SPAK)
In early July 2025 Albanian prosecutors issued 14 precautionary measures and arrested nine people linked to Bankers Petroleum Albania, as part of a probe into alleged VAT fraud, concealment of…
Status: Under investigation. Investigation deadlines extended by three months (reported). No indictment or trial found in sources reviewed.
From 30 Dec 2024
Bankers Petroleum Albania: VAT and tax probe; arrest measures in July 2025
A tax and money-laundering probe into Bankers Petroleum Albania began on 30 December 2024 after a referral from the General Directorate of Taxes, as reported. In early July 2025 prosecutors issued 14…
Status: Under investigation; referred to SPAK (per BalkanWeb, not verified)
Sources for this record
Every source the research cites for this record, grouped by its source label. 3 sources.
Source label: VerifiedVerified · 1 source
- Publisher
- SeeNews
- Date
- Jun 2024
Source label: Officially reportedOfficially reported · 2 sources
- Publisher
- Shqiptarja.com
- Date
- unknown
- Publisher
- Balkanweb
- Date
- unknown