Latest news with #BapcoEnergies'
Biz Bahrain
17-04-2025
- Business
- Biz Bahrain
HH Shaikh Nasser bin Hamad chairs Bapco Energies Q1 board meeting
His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King's Representative for Humanitarian Work and Youth Affairs and Chairman of the Board of Bapco Energies, chaired the Group's first quarter board meeting for 2025. During the meeting, HH Shaikh Nasser bin Hamad expressed appreciation for Bapco Energies' achievements in building and managing a national portfolio of energy companies that support Bahrain's economy and strengthen investment opportunities in the sector. HH Shaikh Nasser bin Hamad commended the progress made towards the goals set earlier this year, in line with Bahrain's Economic Vision 2030, to advance the energy sector. HH Shaikh Nasser bin Hamad also commended the role of Bapco Energies' executive management in 2025, particularly their efforts to strengthen partnerships with leading regional organisations. HH Shaikh Nasser bin Hamad noted the successful issuance of a USD 1 billion, 10-year sukuk, and the signing of an agreement with EOG International, a U.S.-based company specialising in oil and gas exploration. The meeting reviewed the Group's consolidated financial statements for the fiscal year ending 31 December 2024, noting Bapco Energies' strong financial performance despite global economic challenges. The board also reviewed the Group's operational progress in centralising operations and streamlining key business processes to support the transformation of Bahrain's energy landscape. Mark Thomas, Group Chief Executive Officer of Bapco Energies, presented the executive report outlining achievements during the first quarter of 2025, along with detailed updates on the company's performance and key projects. This included progress on the Bapco Modernization Project (BMP) and ongoing upstream exploration and production activities. BNA(R)
Bahrain News Gazette
15-04-2025
- Automotive
- Bahrain News Gazette
Bapco Energies and BIC Partnership Highlights Bahrain on Global Motorsport Stage
Manama: Mark Thomas, Group Chief Executive Officer of Bapco Energies, the integrated energy company at the forefront of Bahrain's energy transition, extended congratulations to His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, for the successful organisation of the 2025 Formula 1 Gulf Air Bahrain Grand Prix. Thomas highlighted Bahrain's commendable track record in hosting international motorsport events at the Bahrain International Circuit (BIC), which have bolstered the Kingdom's global profile and reflect the leadership's support under His Majesty the King. According to Bahrain News Agency, Bapco Energies' collaboration with BIC, known as 'the Home of Motorsport in the Middle East', forms part of a strategy to enhance global presence and support the national economy by sponsoring sports events that elevate Bahrain as a destination for sport and tourism. Since the inaugural Bahrain Grand Prix in 2004, Bapco Energies has been instrumental in shaping motorsport in the Middle East, providing financial and logistical support, including operating a dedicated fuel station at the Circuit. The group is committed to nurturing Bahraini youth in motorsport, offering initiatives like local karting championships to develop national talent. As a principal partner of BIC, Bapco Energies pursues milestones that support energy sector development and sustainability in Bahrain through partnerships and a framework for integrated sustainability with the Circuit. The Bahrain Grand Prix significantly impacts the national economy, attracting investment, generating quality job opportunities, boosting commerce and tourism, and contributing to economic diversification. Bapco Energies' international sports event partnerships reinforce Bahrain's global presence, positioning the Kingdom as a dynamic destination. Bapco Energies also leads sustainability initiatives, collaborating with public and private entities to reduce carbon emissions. During the recent Bapco Energies Bahrain 8 Hours Endurance Race, an environmentally friendly ticket initiative was launched, with proceeds supporting mangrove planting in Bahrain to quadruple coverage by 2035. Further, Bapco Energies announced its official partnership with the McLaren Formula 1 Team at the 2024 Abu Dhabi Grand Prix. This partnership reflects a shared commitment to excellence, innovation, and sustainable success, values at the core of Bapco Energies' operations. Fatima bint Jaffar Al Sairafi, Minister of Tourism and Chairperson of the Bahrain Tourism and Exhibitions Authority, noted an increase in tourism indicators during the 2025 Grand Prix, highlighting the opportunity to showcase Bahrain's strengths. She praised the public-private cooperation and Bapco Energies' role in supporting national events, noting its 90-year legacy in Bahrain's energy sector. Al Sairafi emphasized enhancing tourism and sustainable development through partnerships, noting BIC's global standing and contribution to sports tourism infrastructure. She stressed the importance of a shared vision for sustainable tourism growth, aligned with the 2022-2026 Tourism Strategy and global interest in motorsport. She also detailed efforts to boost tourism during the Formula 1 season through exceptional visitor experiences at both the Formula 1 Village at BIC and across Bahrain's tourism sites. Thomas echoed these sentiments, emphasizing that the Bapco Energies and BIC partnership aligns with the vision of His Majesty the King and HRH the Crown Prince and Prime Minister, promoting youth and sports. Thomas concluded that the Bahrain Grand Prix serves as a platform for cultural exchange, highlighting Bahrain's achievements and contributing to the national economy while fostering a strong base of motorsport fans across the region.
Trade Arabia
19-03-2025
- Business
- Trade Arabia
Bapco Energies completes $1bn Reg S sukuk issuance
Bapco Energies, the integrated company leading the energy transition in the Kingdom of Bahrain, has successfully completed a landmark $1 billion Reg S Sukuk issuance with a concurrent capped tender offer for up to 25% of its outstanding $1 billion 7.5% Notes due 2027, thus reinforcing its commitment to financial prudence and market leadership. The Bahraini energy giant returned to the international capital markets on January 16, 2025, with this 10-year sukuk offering. The issuance was met with overwhelming demand, attracting an order book exceeding $4 billion, representing a four-fold oversubscription. This strong interest highlights investor confidence in Bapco Energies' robust market position and financial strength. The tender offer, launched on 13 January 2025, saw robust participation, with more than $200 million of Notes tendered and accepted by Bapco Energies. The sukuk issuance under Bapco Energies $3 billion Trust Certificate Programme, priced at a competitive 6.250% profit rate, marked the tightest ever spread to US Treasuries for a Bapco Energies issuance, thus reflecting the company's strategic approach to capital market engagement. The transaction drew a diversified global investor base, with 80% allocated to GCC investors, 12% to the UK, and 4% each to US offshore and other markets. The parallel execution of the tender offer and sukuk issuance aligns with Bapco Energies' proactive capital structure optimisation and liability management, allowing for effective debt maturity management and enhanced financial flexibility. The repurchase of the notes supports Bapco Energies' long-term financial strategy, strengthening its balance sheet while maintaining liquidity for future strategic investments, it stated. Bapco Energies' Group CEO Mark Thomas said: "These transactions underscore our commitment to disciplined financial management and proactive investor engagement. The strong participation in the tender offer and the success of our sukuk issuance highlight Bapco Energies' resilience and the market's confidence in our strategy." "We continue to position ourselves as a key player in Bahrain's energy transition and a trusted issuer in global capital markets," he stated. According to Thomas, the sukuk proceeds will support Bapco Energies' ongoing investment in the kingdom's energy infrastructure and strategic initiatives aligned with the National Energy Strategy.
Zawya
19-03-2025
- Business
- Zawya
Bahrain's Bapco Energies completes $1bln sukuk issuance
Bahrain - Bapco Energies has successfully completed a $1 billion 10-year Reg S Sukuk issuance, alongside a capped tender offer for up to 25 per cent of its existing $1bn 7.5 per cent notes due 2027. The tender offer, launched on January 13, 2025, saw significant participation, with over $200m of notes tendered and accepted, culminating in a successful settlement on February 13, 2025. Bapco Energies returned to the international capital markets on January 16, 2025, with its $1bn 10-year sukuk offering. The issuance was met with overwhelming demand, attracting an order book exceeding $4bn, representing a four-fold oversubscription. This strong interest highlights investor confidence in Bapco Energies' robust market position and financial strength. The sukuk, issued under Bapco Energies' $3bn Trust Certificate Programme, was priced at a competitive 6.250pc profit rate, achieving the tightest spread to US Treasuries ever for a Bapco Energies issuance. The transaction drew a diversified global investor base, with 80pc allocated to GCC investors, 12pc to the UK, and 4pc each to US offshore and other markets. The parallel execution of the tender offer and sukuk issuance aligns with Bapco Energies' proactive capital structure optimisation and liability management, allowing for effective debt maturity management and enhanced financial flexibility. The repurchase of the notes supports Bapco Energies' long-term financial strategy, strengthening its balance sheet while maintaining liquidity for future strategic investments. Bapco Energies group chief executive Mark Thomas said: 'These transactions underscore our commitment to disciplined financial management and proactive investor engagement. The strong participation in the tender offer and the success of our sukuk issuance highlight Bapco Energies' resilience and the market's confidence in our strategy. We continue to position ourselves as a key player in Bahrain's energy transition and a trusted issuer in global capital markets.' The sukuk proceeds will support Bapco Energies' ongoing investment in Bahrain's energy infrastructure and strategic initiatives aligned with the kingdom's National Energy Strategy. Bapco Energies remains committed to opportunistically tapping global capital markets to optimise liquidity and funding costs, ensuring sustainable growth and financial stability. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
