Greenergy signs strategic JV agreement with Bapco

Bapco – the Bahrain Petroleum Company – is to establish a regional gasoline blending hub with Greenergy. Bahrain Gasoline Blending (BGB) is set to meet local and regional demand for gasoline blend components.

Commenting on the joint venture Greenergy’s chief executive Andrew Owens said: “This is a further area of expansion for us, allowing us to bring our experience and expertise to grow in a new market.

“Bapco’s facilities are located on a trading channel in and out of the Arabian Gulf and form an ideal base for a new gasoline operation. We look forward to working in close co-operation with the team at Bapco.”

BGB will commence gasoline blending in Bapco’s 260,000bpd capacity refinery in Bahrain using gasoline blend components produced by Bapco’s refining operations and purchased from third parties. Finished-grade gasoline will be sold to Bapco and to customers in the region and further afield. In due course, drawing on Greenergy’s infrastructure expertise, the joint venture plans to develop new dedicated blending facilities in Bahrain that will allow it to process a wider variety of gasoline components.

We’re excited about the long-term growth potential of this unique joint venture and are proud to be working with a company of Greenergy’s industry calibre and international reputation,” added Bapco’s chief executive Dr Pete Bartlett.

This partnership will help us to further develop our activities, and position Bahrain as a leading participant in the gasoline markets in the Middle East. We’re confident that Bahrain Gasoline Blending will allow us to maximise the value of the refinery products we produce, which will contribute positively to Bahrain’s economic development.”

Bapco is the national oil company for the Kingdom of Bahrain, and is involved in various aspects of Bahrain’s energy-related activities; primarily refining, distribution of petroleum products and natural gas, sales and export of crude oil and refined products.

The company owns a 260,000 barrel-a-day refinery, storage facilities for over 14 million barrels, a marketing terminal and a marine terminal for export of petroleum products. The refinery is export based with 95% of production shipped regionally and internationally, with a major portion of its customers from the Middle East, India, Far East, South East Asia and Africa. Over the years, Bapco has prided itself on its environment-centred approach and a steadfast workforce.