ARMO oil refiner is one of the two oil refiners in Albania. It owns oil refineries at Ballsh

Ballsh

-Overview:The city's surrounding fields are rich in crude petroleum and are dotted by a series of oil wells established during the communist dictatorship. Only a fraction of these wells are operating today, but the city includes a working refinery, and outputs of naphthas are significant...

 and Fier

Fier

Fieri is a city in southwest Albania, in the district and county of the same name. It is located at , and has a population of 82,297 . Fier is from the ruins of the ancient Greek city of Apollonia.-History :...

, research center, 11 depots, a small network of fuel stations, and the Vlorë

Vlorë

Vlorë is one of the biggest towns and the second largest port city of Albania, after Durrës, with a population of about 94,000 . It is the city where the Albanian Declaration of Independence was proclaimed on November 28, 1912...

 Terminal located in the south coast on Adriatic sea. 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 shares was sold to the U.S-Swiss consortium Refinery Associates of Texas, Anika Enterprises SA and Mercuria Energy Group

Mercuria Energy Group

Mercuria Energy Group Ltd is a privately-owned international group of companies active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas , power, coal, biodiesel, vegetable oils, and carbon emissions.They are one of the world's five...

 for €128.7 million. Other bids were made by Petrofac

Petrofac

Petrofac is an international provider of integrated facilities services to the oil, gas and energy production and processing industries. It is registered in Jersey , with its main corporate office in Jermyn Street, London. In addition it has major offices in Aberdeen, Mumbai, and Sharjah, and a...

, Penta Investments and Vitol

Vitol

The Vitol group is an energy trading company founded in Rotterdam in 1966. Vitol operates worldwide and, along with Glencore and Trafigura, is one of the world's top three crude oil traders. Vitol's headquarters are located in Rotterdam, the Netherlands and Geneva, Switzerland...

.