Bapco Raises $4 Billion to Expand Refining Capacity

Bapco Raises $4 Billion to Expand Refining Capacity
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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.

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