JOURNAL ARTICLE

Bahrain Offloads Stake in Key Saudi Oil Pipeline to BlackRock.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Martin, Matthew 3 of 3

Abstract

Bahrain has sold a minority stake in a key oil pipeline to BlackRock Inc. The pipeline transports crude oil from Saudi Arabia to Bahrain and can transport up to 350,000 barrels per day. This is the first time Bahrain has monetized its assets and is part of the government's efforts to open up the industry to foreign investments. The deal also includes a memorandum of understanding between Bapco and BlackRock to explore further investments in Bahrain's infrastructure, including areas such as waste-to-energy and electric vehicle charging. BlackRock sees this investment as an opportunity to grow its presence in Saudi Arabia and the Middle East. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/09, pN.PAG
  • Document Type:Article
  • Subject Area:Science
  • Publication Date:2024
  • Accession Number:179607682
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