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Page added on March 29, 2017

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Bahrain denies depletion of oil reserves in 15 years

Geology

Bahrain denied on Tuesday that the oil production in Bahrain will deplete within the next fifteen years, Al Wasat local online news reported.

The Minister of Oil Shaikh Mohammed bin Khalifa Al Khalifa confirmed in the parliament session that the oil reserves will continue for the decades.

He was responding to a remark by MP Majeed Al Asfoor who claimed that Bahrain has only years for its oil production to end.

The minister said that the Bahrain Oil Company will face a major expansion in the coming phase as well as plans to create diversity of oil resources.

He announced earlier plans to invest in excess of 7 billion U.S. dollars across several separate ventures in the next five years

In 2016 the government of Bahrain increased the prices of fuel in the local market.

It has increased the regular gasoline grade from 80 fils per litre to 125 fils per litre and the premium grade from 100 fils per litre to 160 fils per litre.

The decision to increase the price of the local gasoline product has always been part of the government plan to cutback the subsidies from certain services and commodities such as fuel, electricity and water.

 

xinhuanet



3 Comments on "Bahrain denies depletion of oil reserves in 15 years"

  1. Sissyfuss on Thu, 30th Mar 2017 12:30 am 

    The Minister of Oil Shaikh Mohammed bin Khalifa AL Khalifa confirmed in the parliament session that the oil reserves will last for decades or as long as it takes to spell out his name, whichever comes first.

  2. Cloggie on Thu, 30th Mar 2017 3:49 am 

    Rashid bin Saeed Al Maktoum pronounced Râshid bin Sa`îd Âl Makṫûm (1912 – 7 October 1990) (Arabic: راشد بن سعيد آل مكتوم‎‎) was the Vice-President and Prime Minister of the United Arab Emirates and Emîr (Arabic: أمير‎‎) (Ruler) of Dubai. He ruled for 32 years from 1958 until his death in 1990.

    His most famous quote was:

    “My grandfather rode a Camel, my father rode a Camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a Camel”

    https://en.wikipedia.org/wiki/Rashid_bin_Saeed_Al_Maktoum

  3. Midnight Oil on Thu, 30th Mar 2017 8:00 am 

    Of course, of course, he left out the details that there will be reset….only 1 Billion human customers that use it to light camp fires to warm their butts.
    There are always footnotes to read.

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