nogaholding secures $200m funding

MANAMA: Bahrain's Oil and Gas Holding (nogaholding) secured a $200-million Islamic Murabaha financing from a banking syndicate led by Al Baraka Islamic Bank.

This comes as nogaholding prepares to undergo a strategic transformation, moving from a traditional oil and gas holding company to a progressive and responsible energy company.

On the agreement, nogaholding Group CEO Mark Thomas, said: "Seeking diverse financial solutions for nogaholding will help support the company’s financial plans, and meet our mandates that are in line with the Kingdom’s Economic Vision 2030."

Key downstream event from Feb 13

MANAMA: The 2nd Gulf Downstream Association (GDA) International Downstream Conference and Exhibition will be held on February 13–15 at Exhibition World Bahrain under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

The event is being organised by the GDA, and the M3 Company, in cooperation and coordination with the Ministry of Oil and Environment, and with the support of various Bahraini, Gulf and international companies.

The conference will be attended by delegates from a large number of national, regional and international oil companies in addition to 150 specialist speakers. It will also discuss on technical and scientific papers on many specialised topics.

Bahrain scores high in climate readiness

MANAMA: Bahrain ranks well above the regional Mena average in certain areas of climate change response readiness, particularly education and societal awareness, according to EY's Middle East and North Africa (MENA) Climate Change Readiness Index (CCRI).

The EY MENA CCRI highlights Bahrain’s achievement of ranking well above the regional MENA average in certain areas of climate change response readiness, particularly education and societal awareness.

Through its involvement in the AE10 project with the Global Green Growth Institute, Bahrain’s emissions per capita fell more than 10 per cent every year on average over the last five years.

Bahrain has made promising pledges towards climate change adaption or mitigation strategies. The report cited the country as one of the best performing among the others in the index.