FINANCIAL NEWS

Bahrain gas, oil exports surge

15 Sep 2010

(MENAFN) The National Oil and Gas Authority said in a statement that Bahrain’s oil and gas exports have surged over the first six months of the year by 10 percent, Gulf News reported.

The increase is attributed to the surging demand for Bahrain’s high quality oil by-products.

Exports of oil by-products include naphtha, petrol, kerosene, aviation fuel, diesel, cooking fuel, sulphur and asphalt.

This year, productions of crude from the Bahrain and Abu Saafa fields have vaguely decreased to 32.659 million barrels from 32.922m barrels in 2009.

Bapco is planning to boost its average output and Tatweer Oil Company is going to improve its production.

According to the statement, 47.956 million barrels were pushed into the Bahrain Refinery, up from 45.050 million barrels in 2009, which is a 6.5 percent raise.

A total 264,952 barrels were processed daily, up from 248,895 last year.

In the first half of 2010, The Bahrain Refinery’s production increased 48.777 million barrels, up 7.1 percent.

Bahrain exports of oil by-products surged 10 percent to top 42.171 million barrels, up from 38.360m barrels in 2009.

On a daily basis, the average of exports was 232,987 barrels, up from 211,935 barrels last year.

In general production for the first half has increased 3.5 percent to 266.300 billion cubic feet from 257.322 billion cubic feet compared to 2009.

This increase is attributed to the growing number of power stations and the soaring gas consumption at Bahrain’s biggest plants, particularly Bapco, Gulf Petrochemicals Industries Company, and the high local order.

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