Thursday, May 24, 2012
BEIRUT (Zawya Dow Jones)--State-run Bahrain Petroleum Co., or Bapco, is considering setting up a joint venture company with an international marketing firm to sell the output of the country's only refinery after its upgrade, Manama-based Al Wasat daily reports Thursday citing an executive.
This move is part of the master plan of the refinery upgrade project that will cost nearly $6 billion and that will double the refinery's production capacity, the paper said quoting Gordon Smith, Bapco's chief executive.
The refinery, whose daily production capacity is 270,000 barrels of refined products, produced 265,000 barrels a day on average in the first quarter of 2012, according to Bapco, the daily reports.
Newspaper website: http://www.alwasatnews.com/3547/news/read/665154/1.html
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
24-05-12 0856GMT
