Bahrain to invest US$6 billion in refinery capacity expansion
Bahrain’s Energy Minister, Abdul Hussein Mirza, stated the Kingdom is seeking to increase its refinery capacity from 267 thousand barrels per day to about 400 thousand barrels per day. This will be achieved through the modernization of Bahrain Refinery with a total cost of about US$ 6 billion.
He explained that this increase is a result of a comprehensive study for the refinery which is currently managed by the Bahrain Petroleum Company (BAPCO). According to the minister, BAPCO has finally finished the first phase of this project which will allow production of larger quantities of high-value products such as gasoline, kerosene and diesel.
Upon completion of the second phase of this refinery, the production of oil derivatives will increase, which leads to increased profitability. However, this stage requires a significant investment of between 5 to 6 billion dollars.
Mirza noted that his country is currently studying the modernization of the oil pipeline between Bahrain and Saudi Arabia which was built in 1945. It supplies Bahrain with crude oil (around 230 thousand barrels of crude oil per day).
Mirza said, “at present we are studying the possibility of changing the route of the pipeline and replacing it with a new pipeline with a largest capacity of up to 350 thousand barrels of oil per day, which translates in over 100 thousand more barrels.”
- Tourism is the real target of the Tunisia attacks: industry set to suffer
- FIFA scandal probe: No deaths in 2022 World Cup construction, Qatar says
- The UAE harnesses the power of celebrity endorsements
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts