Ionian Refining & Trading Ltd. (IRTC) is a newly formed joint venture comprised of leading Albanian and American independent energy professionals with deep and long-standing experience throughout the entirety of the energy value chain – from production through refining, terminalling, trading and shipping.
IRTC management has owned and operated a 20,000 bbl/d heavy oil in BALLSH Refinery; 10,000 bbl/d bitumen in FIER Refinery and developed the largest bitumen shipping and trading company in the world. IRTC owns also VLORA Terminal and is part of DELVINA Gas Field. Additionally, IRTC management has been successfully operating the Fier refinery in Albania for the past three years.
IRTC has undertaken a strategy to reconsolidate, rationalize and upgrade the Albanian refinery system in order to increase operating efficiencies, optimize product yields and, ultimately, situate IRTC as the highest margin refiner in Southeastern Europe.