Bapco announces joint venture with Greenergy
Bahrain Petroleum Company (Bapco) announced the formation of Bahrain Gasoline Blending (BGB), a strategic joint venture with Greenergy, a large-scale blender of gasoline in the United Kingdom. The joint venture will combine Bapco’s infrastructure and refinery gasoline production with Greenergy’s blending, terminal operations and trading expertise, to meet Bahrain’s domestic and export requirements for gasoline blend components.
BGB will commence gasoline blending in Bapco’s 260,000 barrel-per-day (bpd) refinery in Bahrain, using gasoline blend components produced by Bapco’s refinery and purchases from third parties. Finished-grade gasoline will be sold to Bapco. 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 are 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 caliber and international reputation. 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 are 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,” said Bapco CEO Pete Bartlett.
“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,” said Greenergy CEO Andrew Owens.
Bapco is the national oil company of the Kingdom of Bahrain, and is involved in various aspects of Bahrain’s energy-related activities including refining, distribution of petroleum products and natural gas, sales and export of crude oil and refined products. In addition to its 260,000 bpd export-oriented refinery, Bapco owns storage facilities with a capacity of more than 14 million barrels, a marketing terminal and a marine terminal for export of petroleum products.
UK-based Greenergy is a leading national provider of road fuel, supplying more than 18 billion litres of fuel annually, with significant infrastructure and service capability. By investing in infrastructure over the last decade, Greenergy has created a unique supply chain that allows it to source fuel products from the lowest cost global producers. It blends gasoline at state-of-the-art facilities in the northeast and southeast regions of the UK.