State-owned Bahrain Petroleum Company (Bapco) has announced a strategic joint venture with Greenergy, a large-scale blender of gasoline based in the UK
The joint venture, to be named Bahrain Gasoline Blending (BGB), aims to combine Bapco’s infrastructure and refinery gasoline production with Greenergy’s blending and terminal operations to meet Bahrain’s domestic demand for gasoline blend components and also create opportunities for import and export.
The new company will start gasoline blending operations in Bapco’s 260,000 bpd refinery in Bahrain. The joint venture also has plans to develop new dedicated blending facilities in Bahrain that will allow the production of a wider variety of gasoline components in the future.
The gasoline blend components for production will be sourced from Bapco’s refining operations and also purchased from third parties. Finished-grade gasoline will be sold to Bapco and to domestic and international customers.
Commenting on the joint venture, Bapco chief executive Pete Bartlett said that he was excited about its long-term growth potential and that this partnership will help Bapco to further develop its activities and position Bahrain at a leading position in the Middle Eastern gasoline markets.
“We are confident that BGB will allow us to maximise the value of the refinery products we produce, which will contribute positively to Bahrain’s economic development.”
Greenergy chief executive Andrew Owens pointed out that as Bapco’s facilities are located on a trading channel in and out of the Arabian Gulf, it made an ideal base for a new gasoline operation. He added that the venture allowed both companies to combine their expertise and grow in a new market.
