Renaming of Bapco under review by Shura Council

TDT | Manama

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Plans to rename Bahrain Petroleum Company as ‘Bapco Refining Closed Bahraini Shareholding Company (BSC Closed)’ have been discussed by the Shura Council’s Financial and Economic Affairs Committee.

The meeting, held yesterday and 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 legislation that originally established the company.

The session was attended by His Excellency Dr Mohamed bin Mubarak bin Daina, Minister of Oil and Environment.

The proposal seeks to align the company’s name with wider changes to state-owned enterprises, following Decree No. 49 of 2023, which renamed the ‘Oil and Gas Holding Company’ as ‘Bapco Energies.’

As part of this rebranding initiative, other companies under its umbrella, including Bahrain Petroleum Company, are also expected to adopt updated trade names.

Plan

The committee also 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).’

Members of the committee reviewed input from financial and economic experts, a legal memorandum prepared by the committee’s legal advisor, and feedback from the Shura Council’s Legislative and Legal Affairs Committee.

The Council of Representatives’ report on the decree-law was also taken into account during the discussions.