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FINANCIAL NEWS
Bahrain to decide on oil refinery expansion next year
17 Jan 2015
(MENAFN) Bahrain will make a final decision on whether to expand its only oil refinery next year, with falling crude prices and growing refining capacity in the region would squeeze product margins, Arab News reported.
The proposed expansion would boost the capacity of the Sitra refinery by 100,000 bpd, CEO of Bahrain Petroleum Co. (BAPCO), said in a statement. The refinery’s existing capacity is 267,000 bpd.
“We are in FEED (Front-End Engineering Design) right now, and we will be in that stage in 2015. We will present the kingdom with a plan to proceed or not with the final investment decision in 2016,” he said.
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