Monday, January 21, 2008
Giant oil-field in Albania
Albania has discovered on oil-field of estimated 3 billion barrels of oil. While it does not make Albania one of the largest oil-producers, it is still a very significant amount. With 100$ per barrel, the oil in the reserve is worth $300 bn, which equals to more than 30 years of Albanian GDP. So Albania is to become much richer and/or much more authoritarian. One way or the other, it is a quite important development for Europe.
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