In a lecture organized by the Association of Economists .. Al -Maatouk: The Babco Refield project opens new markets for Bahrain’s oil products

Ayman shape

The Bahraini Economists Association organized a lecture entitled “The project to update and develop the Babco refinery refinery and its importance in supporting the national economy”, in which the director of the company’s technical services department, Sayed Mahmoud Alawi Al Matouk, spoke, who confirmed that the project opens new markets for Bahrain’s oil products.

At the beginning of the lecture, Al -Maatouk stressed that the project is the largest strategic project witnessed by the Kingdom of Bahrain, and it comes as an embodiment of the approach of the wise leadership and the esteemed government in strengthening the Kingdom’s resources through various policies and comprehensive strategies to improve the structure of the national economy and advance it with the diversification of the various productive sectors of the economy, explaining that Babco Refining Company found all forms of support from the government, its institutions and bodies, as well as from various government ministries.

He said that the historical project corresponds to the directions of the Kingdom of Bahrain in keeping pace with the latest technological developments in the industrial sector, as it aims to produce clean, added and environmentally friendly products, which opens more foreign markets for Bahraini oil products and enhances their competitiveness.

Al -Maatouk stressed that the project has succeeded in attracting the interest of financial financing agencies at the global level, as it participated in financing the projects of major companies, banks and local and international financial institutions, which reflects global confidence in the Bahraini economy, knowing that Babco Refining Company is the one that will pay the project costs that reach Several billion dollars.

Al -Maatouk initially touched on the history of Bapco and the beginning of the discovery of oil in Bahrain as the first country in the region to show oil at the first digger, while Saudi Arabia needed to dig 7 wells until the first discovery in Dammam was reached.

Al -Maatouq added that thinking at the beginning directed to manufacturing and refining oil, and therefore Babco was the first company in the region and was established to refine for all the Gulf states, and since 1936 the same refinery is still operating until today, and that the gasoline that is used in cars so far from that unit.

A new refinery, not an expansion

He pointed out that “the new expansion is not an expansion in the sense that it is called, but it is a new refinery as the largest project in the Kingdom of Bahrain and extends for several years and is compatible with the directions of the rational leadership and the esteemed government, where we have manufacturing competencies and raw oil and therefore we are trying to produce high -return products that are compatible with the environment and goal From the project, it is to raise productive efficiency and better quality products on them in the global market, as well as using a lower cost, energy and space, as the port was expanded, “noting that this port is supervised by the state and shared by Jeepk.

He revealed that Bahrain’s consumption of car petrol is approximately 23 thousand barrels, indicating that Babco manufactures good and excellent gasoline producers, while the super 98 is imported, and Bahrain’s consumption does not exceed 500 barrels per day.

The Director of the Technical Services Department of the company pointed out that Bahrain imports 230 thousand barrels and the production capacity will be 380 thousand barrels, but so far the expansion has not been completely completed and targeted to reach 400 thousand barrels, indicating that the largest nearby refinery for Bahrain is Aramco and produces 400 thousand barrels.

Al -Maatouq provided an explanation of the products produced by the refinery today and enjoy high efficiency and a high demand in the market, and said that Bahrain has an advantage for the kerosene product that it produces as it can be used in any type of aircraft or even factories because its quality is very high, and that Bahrain produces diesel for export Local use and expansion will contribute to raising the production capacity and said: “There are products that may be unwanted in the current market and Bahrain does not have a competitiveness in it, but by using the new technology we have been able to convert it into other products with a good request.”

Also between one of the most important goals of expansion, which is to enhance energy consumption, which reached a reduction of 28% in consumption, and will reach in the next stage and upon reaching production to 400 thousand barrels, the savings rate to 30%, and he stressed that one of the company’s priorities is to employ national cadres, indicating that The target is to create 750 new jobs, 500 of which have been employed until today.

Regarding the benefit of the Bahraini economy, the project of its large size requires cooperation with a large number of contractors in the Kingdom, and that international companies require them to invest part of their investments in Bahrain and this investment contributes to the wheel of the economy, and most of the companies that Babco deals with refining are local companies while the foreigner It is one of the countries of the region, most notably the Kingdom of Saudi Arabia, and the increase in production will undoubtedly contribute to the local product of the Kingdom.

He said that the pricing operations are subject to the global market, but the demand is dealt with in diversifying the products produced by the refinery, so that the Kingdom gets the highest profit return of products with demand and higher price, as the aim of the project is not only expansion, but competition for the production of many materials and self Top quality with technologies is the first in the Gulf region.

He explained that there are products that are not intended for profitability, but for local consumption and are produced as strategic products for the Kingdom and instead of importing them, as well as they are products that are integrated to the economy of Bahrain.

Al -Maatouk emphasized that His Highness Sheikh Nasser bin Hamad Al Khalifa, representative of His Majesty the King for Humanitarian Acts and Youth Affairs, Chairman of Babco Enemia, has granted all support to workers in the company and said: “We are proud to be part of this achievement and move forward in offering more projects, initiatives and plans Asphalting and innovative to continue developing the sector and ensuring its sustainability.