Bapco's readiness to cope with IMO standards stressed

Manama, Sept. 24 (BNA): Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa stressed readiness of Bahrain Petroleum Company (Bapco) to cope with modern standards launched by the International Maritime Organisation (IMO) which imposed new special criteria regarding ships' fuel. He expected the operational phase to start during the next two years and pointed out that the specifications of oil products change mainly with the climate change policy. He pointed out that next year a new policy will be implemented by IMO requiring ships to use low-sulfur fuel. He added that Bapco is preparing to cope with the new market which needs clean and environment-friendly fuel through well-selected technologies. He noted that 30% of the project has been achieved so far, adding that work is going on according to a fixed schedule as the operational phase is hoped to start within the next two years. In press statements given on the sidelines of the Competitive Energy Systems Symposium today, the Minister of Oil Affairs pointed out that the production capacity after the expansion of the refinery will reach around 400, 000 barrels. He also stressed ability of the Kingdom of Saudi Arabia to maintain its standing as a major exporter of oil, especially after production has returned to its natural rate in a record time of no more than three days. Concerning the contingency plans in the Kingdom of Bahrain, the minister affirmed that Bahrain has put in place emergency plans to prevent any delay in transportation. He said the kingdom has contingency plans in addition to the existence of the maritime line. The minister said the symposium aims to review the policy of climate change and renewable energy and enforce it in the oil sector. He pointed out abundance of the basic by-products reserve in Bahrain which suffices for a long time, adding that the new oil discovery is still in the testing phase.