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2012-10-19 00:00:00
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Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, is expanding exploration in the south of the continent, where nations plan to reduce fuel imports.
The company has obtained projects in Albania, Turkey and Ukraine in the last 12 months.
“We are particularly busy in southern Europe,” Brown said. “We always knew there is oil in Albania.”
The Anglo-Dutch company in May paid $50.3 million to Petromanas Energy Inc. (PMI) for a 50 percent stake in Blocks 2 and 3 in Albania, according to the Calgary-based company.
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