TIRANA (Albania), Aug 23: The Albanian government signed a contract for the sale of 85 per cent of the Albanian ARMO state oil company after negotiating terms with a US-Swiss consortium in a deal worth euro128.75 million, authorities said on Saturday.

The consortium, comprising Texas-based Refinery Associates of Texas, and Geneva, Switzerland-based Mercuria Energy Group and Anika Enterprises, won the international tender in June.—AP