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Manama, May 29 (BNA): His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today inaugurated Bapco Energy, the new commercial identity of the Oil and Gas Holding Company.
His Highness pointed out the importance of diversifying and developing the Kingdom’s economy in line with Bahrain’s Economic Vision 2030 and in line with the comprehensive development of the Kingdom under the leadership of His Majesty King Hamad bin Isa Al Khalifa.
His Royal Highness highlighted the importance of investing in the oil and gas sector, as well as promoting initiatives that ensure sustainability, create opportunities for Bahraini citizens, and influence the development of vital sectors.
His Highness praised the initiative to advance the oil and gas sector, specifically the efforts of His Highness Sheikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs, Chairman of the Board of Directors of the Oil and Gas Holding Company (Bapco Energy), which enhanced the competitiveness of the sector.
His Highness expressed his gratitude to the members of Team Bahrain for their vital role in meeting the ambitious aspirations of the sector. In this regard, His Highness the Crown Prince and Prime Minister pointed out the importance of using creative and innovative approaches in achieving the Kingdom’s development goals designed to benefit current and future generations.
His Highness Shaikh Nasser bin Hamad Al Khalifa said during the launch of Bapco’s energies: “Today is a historic day as we begin to write a new chapter for the energy future in the Kingdom of Bahrain. Energy security faces the realities of the world we live in and we need to implement a forward-thinking transitional roadmap, mobilized Through a diversified mix of energy sources, while ensuring that we deliver on our commitments to climate action.”
“With Bapco Energies, we are evolving from a traditional oil and gas holding company into an innovative, progressive, open and ambitious company that will support us in securing our energy future. Embracing renewable energy not only unlocks new investment, but also fuels innovation in finance, fosters collaboration among technology leaders, and creates economic opportunity for the nation.”
Under the umbrella of Bapco Energy, existing operating companies, including the Bahrain Petroleum Company (Bapco), Bahrain National Gas Company (Banagas), Bahrain National Gas Expansion Company (Tuwaisa), Bahrain Aircraft Refueling Company (Bafco), Tatweer Petroleum, and Bapco to retail (Tazweed) and change its brand to seven companies over the next three years. The seven companies include three new ventures focused on maximizing enterprise value through trade and investment in new technologies and renewable energy sources.
The inauguration was attended by His Highness Sheikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, Chairman of the Board of Directors of the Oil and Gas Holding Company (TAQAT Bapco), and His Highness Sheikh Mohammed bin Salman bin Hamad Al Khalifa. Number of other senior officials.
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