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Bahrain: Bapco secures financing for refinery expansion

State-owned Bahrain Petroleum Company (Bapco) has completed a large fund-raising programme – believed to amount to more than $4bn – which will be used to finance the expansion of its refinery from its current capacity of 267,000 b/d to 380,000 b/d. Five export credit agencies and a group of 21 regional and international banks were involved in the financing. BNP Paribas, HSBC Middle East and Verus Partners acted as advisers on the deal.

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