The Shura Council’s Financial and Economic Affairs Committee has discussed plans to rename the Bahrain Petroleum Company to ‘ Bapco Refining Closed Bahraini Shareholding Company (BSC Closed)’. The meeting, chaired by Khalid Hussain Al Maskati, focused on Decree-Law No. 19 of 2023, which amends parts of Decree-Law No. 42 of 1999. The session was attended by Dr. Mohamed bin Mubarak bin Daina, Minister of Oil and Environment. The proposal aims to align the company’s name with wider changes to state-owned enterprises, following the renaming of the ‘Oil and Gas Holding Company’ to ‘Bapco Energies’. Other companies under its umbrella are also expected to adopt updated trade names as part of the rebranding initiative.
In addition to the name change, the committee examined a plan to replace the company’s original charter with a revised incorporation document and articles of association for the new entity, ‘Bapco Refining Closed Bahraini Shareholding Company (BSC Closed)’. Financial and economic experts provided input, a legal memorandum was prepared by the committee’s legal advisor, and feedback from the Shura Council’s Legislative and Legal Affairs Committee was reviewed. The Council of Representatives’ report on the decree-law was also taken into account during the discussions. This thorough review process ensures that the proposed changes are well-considered and in line with legal requirements.
The renaming of Bahrain Petroleum Company to ‘Bapco Refining Closed Bahraini Shareholding Company (BSC Closed)’ is part of a broader initiative to update the names of state-owned enterprises. The change aligns with a recent decree that renamed the ‘Oil and Gas Holding Company’ to ‘Bapco Energies’. This rebranding effort aims to modernize and streamline the naming of government-owned entities, providing clarity and consistency in the marketplace. By updating the trade names of its subsidiary companies, including Bahrain Petroleum Company, the government aims to enhance the visibility and reputation of these organizations.
The proposal to rename Bahrain Petroleum Company has been carefully considered by the Shura Council’s Financial and Economic Affairs Committee. The discussions during the meeting, which included input from financial and economic experts, legal advisors, and legislative committees, indicate that the decision-making process is thorough and transparent. By taking into account various perspectives and expert opinions, the committee is ensuring that the proposed changes are well-founded and in the best interest of the company and its stakeholders. The involvement of key stakeholders, such as the Minister of Oil and Environment, further underscores the importance of this renaming initiative for the government and the energy sector.
The rebranding of Bahrain Petroleum Company to ‘Bapco Refining Closed Bahraini Shareholding Company (BSC Closed)’ reflects a strategic effort to modernize and align the company with broader changes in the state-owned enterprise sector. By updating the company’s name and charter, the government is signaling its commitment to enhancing the competitiveness and efficiency of its energy sector. The revised incorporation document and articles of association for the new entity will provide a framework for the company’s operations and governance, ensuring that it remains compliant with regulatory requirements and best practices. This renaming initiative is a positive step towards strengthening Bahrain’s energy sector and ensuring its continued growth and success in the future.
