Bapco Energies inaugurated
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, yesterday inaugurated Bapco Energies, the new brand identity of the Oil and Gas Holding Company, nogaholding.
HRH the Crown Prince and Prime Minister noted the importance of diversification and development of the kingdom’s economy in accordance with Bahrain’s Economic Vision 2030 and in line with the kingdom’s comprehensive development led by His Majesty King Hamad.
He highlighted the importance of investing in the oil and gas sector, as well as strengthening initiatives that ensure sustainability, create opportunities for Bahraini citizens, and impact the development of vital sectors.
HRH the Crown Prince and Prime Minister praised the initiative to advance the oil and gas sector, specifically the efforts of His Majesty’s representative for humanitarian work and youth affairs, chairman of the Oil and Gas Holding Company (Bapco Energies) Shaikh Nasser bin Hamad Al Khalifa.
HRH Prince Salman expressed gratitude to Team Bahrain members for their vital role in meeting the sector’s ambitious aspirations. In this regard, he noted the importance of using creative and innovative approaches in realising the kingdom’s development objectives designed to benefit both present and future generations.
During the launch of Bapco Energies, Shaikh Nasser said: “Today is a historic day as we embark on writing a new chapter for the future of energy in Bahrain. Energy security is confronted with the realities of the world we live in and we need to implement a forward-thinking transition roadmap, mobilised by a diversified mix of energy sources, while ensuring we meet our climate action commitments.”
“With Bapco Energies, we are evolving from a traditional oil and gas holding company into one that is innovative, progressive, open, ambitious, and will support us as we secure our energy future. Embracing renewable energy not only unlocks new investments, but also fuels innovation in financing, fosters collaboration among technology leaders, and creates economic opportunities for the nation,” he added.
Under Bapco Energies, the existing operating companies, including Bahrain Petroleum Company (Bapco), Bahrain National Gas Company (Banagas), Bahrain National Gas Expansion Company (Tawseah), Bahrain Aviation Fuelling Company (BAFCO), Tatweer Petroleum, and Bapco Retail Company (Tazweed), will be integrated and rebranded into seven businesses over the next three years.
The seven businesses include three new ventures focused on maximising enterprise value through trading and investing in new technologies and renewables.
The inauguration was attended by Shaikh Nasser, Shaikh Mohammed bin Salman bin Hamad Al Khalifa, and a number of other senior officials.
Source: https://www.gdnonline.com/Details/1242997/Bapco-Energies-inaugurated
