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2018-05-14 10:45:00

BAHRAIN ENERGY FUND: $1 BLN

BAHRAIN ENERGY FUND: $1 BLN

OGJ - Bahrain plans to raise $1 billion for energy investments in a fund the government calls unique among Gulf Cooperation Council countries.

Investments will include development of Bahrain Petroleum Co.'s recent offshore discovery in an unconventional reservoir, estimated to hold 80 billion bbl of oil in place.

Funds also will be used for other upstream work as well as downstream projects.

The Bahrain Energy Fund will be backed by the government, which seeks to raise funds from financial institutions in the kingdom.

In a related move, the Bahrain Development Bank announced a venture capital initiative, the $100 million Al Waha Fund of Funds, to attract investment firms to the island nation and support business start-ups.

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Earlier:

 BAHRAIN'S NEW OIL
2018, April, 27, 10:45:00

BAHRAIN'S NEW OIL

AOG - Bahrain, recently announced that it had unearthed around 80 billion barrels of unconventional oil and up to 20 trillion cubic feet of tight gas off its west coast. The discovery could potentially transform the island state’s reserves which currently total well under 200 million barrels.

 BAHRAIN'S NEW OIL&GAS
2018, April, 2, 09:15:00

BAHRAIN'S NEW OIL&GAS

REUTERS - The new tight oil and deep gas resource is expected to contain many times the amount of oil produced by Bahrain’s existing oilfields, as well as large amounts of gas, BNA reported.

 IMF: BAHRAIN'S VULNERABILITY UP
2017, August, 28, 19:45:00

IMF: BAHRAIN'S VULNERABILITY UP

Bahrain’s fiscal and external vulnerabilities have increased in the wake of the oil price decline. Overall GDP grew 3 percent in 2016, supported by strong growth of 3.7 percent in the non-oil sector aided by the implementation of GCC-funded projects. Average inflation remained moderate at 2.8 percent. Bank deposit and private sector credit growth slowed. The banking sector remains well capitalized and liquid. Despite the implementation of significant fiscal adjustment, lower oil prices meant that the overall fiscal deficit reached nearly 18 percent of GDP and government debt rose to 82 percent of GDP. The current account deficit widened to 4.7 percent. International reserves have declined.

 OPEC & NON-OPEC AGREEMENT
2017, May, 26, 14:15:00

OPEC & NON-OPEC AGREEMENT

OPEC Member Countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan, taking into account the decision reached by OPEC at the 172nd Meeting of the Conference, recognized the need for continuing cooperation among oil exporting countries in order to achieve a lasting stability in the oil market.

 GAZPROM & BAHRAIN LNG
2016, May, 5, 18:50:00

GAZPROM & BAHRAIN LNG

Russian state-owned oil and gas giant Gazprom is currently working to create a liquefied natural gas (LNG) distribution hub in Bahrain. The hub will be meant to intake LNG from various sources, including Russia.

 
 

 

Tags: BAHRAIN, ENERGY, OIL, GAS