Bapco Raises $4 Billion to Expand Refining Capacity

The non-OPEC gulf oil producer Bahrain Petroleum Co. (Bapco) has raised $4 Billion funding to expand its refining capacity...

The non-OPEC gulf oil producer Bahrain Petroleum Co. (Bapco) has raised multibillion-dollar investment to expand refining capacity from 267,000 barrels to 380,000 barrels per day.

The French international banking group BNP Paribas, HSBC Middle East and Verus Partners gave this financial advice to Bapco.

The refinery expansion is planned to be completed by 2022. Initially, the investment was undisclosed but according to Reuters, the amount is over $4 billion. The five export credit agencies and 21 commercial banks (regional and international) participated in the funding which also involves conventional and Islamic loans.

JOIN US TO STAY UPDATED ON YOUR FAVORITE MESSENGER APP!

WhatsApp
Telegram

As part of our ongoing support for startups and SMEs, LAFFAZ Media publishes feature and resource articles that may include references and links to external websites. These inclusions are selected at our editorial discretion to provide valuable information to our readers. LAFFAZ Media does not control, endorse, or assume responsibility for the content or practices of external websites. For more details, please refer to our Terms and Conditions.

Interesting Read: Startup Glossary – 40+ Startup Terms Every Startup Founder & Entrepreneur Should Know

Editorial Staff
Editorial Staff

The Editorial Staff at LAFFAZ encompasses fandoms of startup culture, crazy researchers, data analysts and writers who decrypt strenuous information into graspable news, produce noteworthy features and compelling stories.

Articles: 963