Bahrain Petroleum Company

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Bahrain Petroleum Company (BAPCO)
TypeState owned
IndustryOil and gas industry
Founded1929 (1929) in Canada
1999 (1999)
FounderStandard Oil Company of California
Headquarters
Awali
,
Key people
Dr. Dawood Nassif (CEO)
OwnerGovernment of Bahrain
Websitewww.bapco.net

The Bahrain Petroleum Company (BAPCO) is an integrated national oil company of Bahrain.

History[]

Plaque commemorating the First Oil Well

The BAPCO was established in 1929 in Canada by Standard Oil Company of California for oil exploration activities in Bahrain.[1][2][3] It took over Bahrain's assets of Gulf Oil.[1] In 1930 it obtained the only oil concession in Bahrain.[4] BAPCO discovered first oil in 1931.[5] On 31 May 1932, the company discovered the (Awali Field). After exporting oil and constructing a refinery, it started with 10,000 barrels per day (1,600 m3/d) refining capacity in 1936.[3] Later that year the Standard Oil Company of California signed an agreement with Texaco, which acquired a half of BAPCO's shares.[1] In 1975 more than 60% BAPCO's shares was acquired by the Government of Bahrain. In 1980, all BAPCO's shares were taken over by the Government of Bahrain.[1][6] In 1978 the oil sector was nationalized and BAPCO assumed full control of the national energy sector.[5] In 1999, the current Bahrain Petroleum Company was created when the Bahrain National Oil Company, established in 1976, merged with BAPCO.[1][6] In 2018 BAPCO commissioned a new pipeline that replaced the over 70 years old pipeline infrastructure between Bahrain and Saudi Arabia.[3] In March 2019 construction work was started to upgrade the main oil refinery Sitra. The $5 billion project will increase the capacity to 380,000 barrels per day (60,000 m3/d).[3] On 29 December 2019, the company was allegedly targeted by Iranian hackers with data-wiping malware called Dustman, with only a small portion of the company's computers being affected.[7] Currently Peter Bartlett serves as CEO of the BAPCO.[8] BAPCO started their lubricants business unit in 2011 and launched its lubricants in 2015 in the local markets of Bahrain.

Bapco's Minister Sheikh Mohammed bin Khalifa bin Ahmed appointed Dawood Nassif as chairman of the board of directors in July 2019.[9] In December 2020, BAPCO's chairman Dawood Nassif, said that the company was aiming to reduce all fuel oil production and focus on Diesel fuel and Jet fuel by 2025. This is to be achieved through a $6.0 billion upgrade and modernization project at the flagship Sitra refinery. Oil Minister, Sheikh Mohammed bin Khalifa Al Khalifa stated that construction on BAPCO's oil refinery expansion in Sitra had reached 60% completion.[10] The expansion was to be completed by 2020 but due to delays cause by the COVID-19 pandemic, S&P Global Platts stated that the plan has changed. Nassif said "We're going to make Jet fuel for delivery in 2023, which we believe will be smack on the recovery."[11] Bapco announced in June 2020, that there would be cuts made in Foreign workers. Akhbar Al Khaleej told media that it was the company's intention to employ more Bahraini nationals, especially with the refinery expansion project to be completed in 2022.[12]

Operations[]

BAPCO is an integrated oil company operating in the field of exploration, drilling, production, refining, and marketing. It operates a 260,000-barrel-per-day (41,000 m3/d) oil refinery which lies midway between the original BAPCO expat workers accommodation township of Awali and Sitra.[13] The complex also includes storage facilities for 14 million barrels (2.2 million cubic metres), a marketing terminal, and a marine terminal. 95% of the company's products are for exports.[5] About one-sixth of this crude originates from the Bahrain Field, with the remainder being pumped from Saudi Arabia. Saudi Aramco supplies approximately 350,000 barrels per day (56,000 m3/d) through the 112-kilometre (70 mi) pipeline from Aramco's Abqaiq Plant.[14] Bapco started their lubricants business unit in 2011 and launched its lubricants in 2015 in the local markets of Bahrain.[15] Unit was headed by Howard Hancock[16] and supported by Bhupinder Singh as Head Sales and Marketing.[17] Once the flagship Sitra refinery's expansion is completed in 2022, its capacity will be increased from 267,000 bpd to 380,000 bpd.[11]

References[]

  1. ^ Jump up to: a b c d e Vassiliou, Marius (2018). Historical dictionary of the petroleum industry, 2nd Ed. Historical dictionaries of professions and industries. 3. Rowman and Littlefield. p. 621. ISBN 978-1-5381-1159-8.
  2. ^ Lobna Ali Al-Khalifa (2010). Foreign Direct Investment in Bahrain. Universal-Publishers. p. 146. ISBN 9781599423210.
  3. ^ Jump up to: a b c d "Boosting production to 380,000 bpd". The Japan Times. 26 June 2019. Retrieved 2 June 2020.
  4. ^ The United States and Arab nationalism: the Syrian case, 1953-1960. Greenwood Publishing Group. 2009. p. 6. ISBN 9780275954260.
  5. ^ Jump up to: a b c Olimat, Muhamad S. (2016). China and the Gulf Cooperation Council Countries: Strategic Partnership in a Changing World. Lexington Books. p. 92.
  6. ^ Jump up to: a b The Middle East and North Africa 2003 (49 ed.). [Routledge]. 2002. p. 225. ISBN 9781857431322.
  7. ^ "Iranian hackers target Bapco". Trade Arabia. MANAMA. 10 January 2020. Retrieved 12 January 2020.
  8. ^ "Petroleum prospects: Dr Pete Bartlett". The CEO Magazine. September 29, 2017. Retrieved June 5, 2020.
  9. ^ "Oil minister names Dawood Nassif chairman of Bahrain Petroleum Co: BNA". Alarabiya. May 20, 2020. Retrieved April 13, 2021.
  10. ^ "Bapco refinery expansion work set for 2022 completion". TradeArabia. December 22, 2020. Retrieved April 21, 2021.
  11. ^ Jump up to: a b "Refinery news roundup: Fujairah to get fourth refinery in 2021". S&P Global. December 22, 2020. Retrieved April 28, 2021.
  12. ^ "Bahrain Petroleum decides to let go of 'hundreds' of expat staff". Gulf News. June 12, 2020. Retrieved April 30, 2021.
  13. ^ Minerals Yearbook, 2008, V. 3, Area Reports, International, Africa and the Middle East. United States Geological Survey. 2010. pp. 45–3. ISBN 9781411329652.
  14. ^ Rais, Ahlam (15 October 2018). "Saudi Aramco and Bapco Commission New Pipeline to Support Bahrain's Energy Demand". Process Worldwide. Retrieved 2 June 2020.
  15. ^ "Bapco Drives into Consumer Lubricants Market with Exciting Launch offers". Gulf Auto Zone. September 7, 2015. Retrieved June 5, 2020.
  16. ^ "The Opening of House 14" (PDF). BAPCO News. May 2011. Retrieved June 5, 2020.
  17. ^ "Co-Located Bitumen and Base Oil Conferences" (PDF). AMEA Conferences. August 1, 2018. Retrieved June 5, 2020.

External links[]

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