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FINANCIAL NEWS
Bahrain to expand refining capacity
08 Jun 2011
(MENAFN) Bahrain’s National Oil and Gas Authority’s (NOGA) chairman, Abdul-Hussain bin Ali Mirza, said that the country’s plans to enhance the refining capacity by around 50 percent would cost around USD5 billion to USD6 billion, reported Arab News.
Mirza added that after completing the upgrade of the second phase of the refinery, Bahrain’s refining capacity would be increased to 400,000 barrels per day (bpd) to 500,000 bpd from the current 267,000 bpd.
He also said that Bahrain worked with Saudi on a plan so that by the end of 2014, the old pipelines that connected the two countries would be fixed and developed, adding that this project would cost around USD350 million.
It is worth noting that the current capacity of the pipeline is 230,000 bpd. Moreover, the Kingdom of Bahrain aims to boost its oil production to 100,000 bpd from the current 30,000 bpd.
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