Organization of Arab Petroleum Exporting Countries
Volume 40 Issue 5
6
OAPEC Member
Countries
Algerian Presidency has named a new cabinet in
May 2014 headed by HE Abdel Malek Al Sallal.
HE Youcef Yousfi has been reappointed as Energy and
Mining Minister. HE Mr Yousfi has been in this post
since May 2010.
OAPEC Secretary General HE Abbas Ali Naqi has
sent a cable of congratulation to HE Dr Youcef Yousfi
on his reappointment expressing his hopes for the
continuation for Algeria`s support for the organization
activities. HE Youcef Yousfi with a thanking cable.
Recent official statistics by Bahrain’s
Central Information Organisation have shown
that the value added to crude oil and natural
gas in the Bahraini economy’s GDP has risen
by about 12% (from BD 2.8b to BD 3.2b)
forming 26% of the country’s GDP. These
figures are the highest revenues in the history
of the Kingdom of Bahrain.
Bahrain produces 198,000 b/d of crude oil,
150,000 b/d of which are from Abu Sa’afa
Field and about 48,000 b/d from Bahrain Field.
Abu Saafa is a joint field between Bahrain
and Saudi Arabia. Its production capacity is
300,000 b/d. The production is distributed
evenly between the two countries (150,000 b
each).
Bahrain’s Abu Saafa share is exported
directly to international markets in the
form of crude oil while Bahrain Field crude
oil is sold to Bahrain Petroleum Company
(BAPCO) to be refined and exported as oil
products.
Natural gas production is consumed locally
by power plants and giant factories like
BAPCO and Gulf Petrochemical Industries
Co. (GPIC) in addition to other industries.
Electricity and Water Authority and
other power generation companies come
on top of the consumers (35%) followed by
Aluminium Bahrain (Alba) then BAPCO,
GPIC and other industrial companies in
Bahrain respectively.
Posts Record Revenues in
Bahrain
2013
