PHOTO
Bahrain is reportedly seeking investors for a key oil pipeline this is used to transport crude from Saudi Arabia, according to a Bloomberg report.
The Gulf country is looking towards monetising its energy assets by raising a few hundred million dollars from the stake sale, the report said, citing people who asked not to be identified.
The pipeline, operated by Saudi Aramco and the Bahrain Petroleum Company (Bapco), can transport up to 350,000 barrels of crude oil per day.
Representatives for Bahrain’s Bapco Energies declined to comment to Bloomberg.
Bapco, meanwhile, announced a tie-up with UAE’s Masdar on Wednesday to jointly explore the development and investment in wind projects in the kingdom with a capacity of up to 2 gigawatts (GW), marking the first entry of the Abu Dhabi Future Energy Company into Bahrain.
(Writing by Bindu Rai, editing by Daniel Luiz)
