VOL. XL

No. 15

14-April-1997

BAHRAIN

Bahrain Government Acquires Caltex's 40% Stake In BAPCO Refinery

The Bahrain Government formally signed on 7 April an agreementwith Caltex of the US under which it acquired the latter's 40% equity stake in the 250,000b/d Bahrain Petroleum Company (BAPCO) refinery with effect from 1 April, thereby takingover full ownership of the plant. The agreement was signed by the Bahraini Minister of Oiland Industry, Shaikh 'Isa bin 'Ali Al Khalifah, and the Chairman...