Bahrain Oil & Gas Report Q1 2013 - New Market Report
BMI View: Bahrain has a slowly declining and small oil production base, and there is little it can do remedy this situation. This means the onus in terms of investment is firmly on the downstream, where Bahrain Petroleum Company (BAPCO) is planning to increase the capacity of the kingdom's centrepiece Sitra refinery - from 267,000b/d to around 450,000b/d. For this expansion plan to proceed, Bahrain will need to gain access to financing of more than US$6bn, which will be a...
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