By: Ramy Sameeh
Abu Dhabi - Mubasher: The Bahraini oil minister believes now might be the right time for eliminating government subsidies and freeing fuel prices in Bahrain.
It is a good opportunity since prices in the Bahraini market are currently very so close to those in global markets, Sheikh Mohammed bin Khalifa told reporters on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
He added that until now Bahrain did not follow the footsteps of the UAE and Oman in freeing prices.
While this could be a good opportunity, the social aspects regarding consumers must be taken into consideration, the minister stressed.
The Bahraini oil sector is currently seeing some megaprojects according to the minister, such as the upgrade and expansion of the Bahrain Petroleum Company’s (Bapco) refinery, the liquefied natural gas (LNG) harbor, and the new oil pipeline project between Saudi Arabia and Bahrain, which is set to enter service in 2018.
Translated by: Moslem Ali
