The UK government has said it is planning to financially support the multi-million-pound expansion of an oil refinery in Bahrain, just days after scientists warned a global effort to move away from fuel fossils was vital to prevent climate catastrophe. The state-run Bahrain Petroleum Company (Bapco) has sought international backing for upgrades to increase the output capacity of its processing plant in Sitra by more than a third to 360,000 barrels a day. The project is expected to cost well in excess of £3.8bn. UK Export Finance (UKEF) – the government credit agency which underwrites loans and insurance for risky export deals as part of efforts to boost international trade – said it was considering financing the refinery expansion.
Independent 12th Oct 2018 read more »