Albania Publishes EITI Report 2011

Albania Publishes EITI Report 2011

Albania publishes it’s EITI Report 2011. This report summarizes information on reconciliation of fiscal and non-fiscal revenue from the extractive industry in Albania as part of the implementation of Extractive Industries Transparency Initiative (EITI) in Albania. In this context, licensees and the Albanian Government, respectively have reported payments and collections from the extractive industry for royalties, profit tax, share on oil production, signature bonuses and other industry related payments. In addition, this report includes reconciliation revenue collected from the State-owned company – Albpetrol in relation to licenses under its administration and the cash flows contributed by Albpetrol to the State Budget.

This is the third report published under this initiative and includes payments and collections made in 2011. Two other reports were published earlier, respectively, for the years 2009 and 2010.

67 extractive companies and 7 state institutions have participated in the reconciliation process.

This EITI Report 2011 has been prepared in accordance with the new EITI standard 2013.

The report has produced disaggregated data by company and revenue stream.

The EITI 2011 Report is produced by the reconciler using the International Standard on Related Services (ISRS) 4400: “Engagements to Perform Agreed-upon Procedures Regarding Financial Information”.

This report is reconciled by Deloitte Albania.