Bahrain Tightens Control on Oil Facilities Following Attack

Logo of Bahrain Petroleum Company (Bapco)
Logo of Bahrain Petroleum Company (Bapco)
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Bahrain Tightens Control on Oil Facilities Following Attack

Logo of Bahrain Petroleum Company (Bapco)
Logo of Bahrain Petroleum Company (Bapco)

Bahrain’s Crown Prince Salman bin Hamad Al Khalifa, Deputy Supreme Commander and First Deputy Prime Minister instructed the Ministry of Interior, Ministry of Works, Municipalities Affairs and Urban Planning and the Bahrain Petroleum Company (Bapco) to continue to implement security and maintenance measures for pipeline facilities across the Kingdom.

The Crown Prince also called on addressing the needs of the people affected by the terrorist incident that targeted an oil pipeline in Buri village south of Manama on Friday evening.

The Ministry of the Interior transferred a number of people from the village, where the terrorist attack took place, to a shelter in order to ensure their security and safety and provide them with the necessary care.

He extended gratitude to the Kingdom of Saudi Arabia for its prompt cooperation in response to the attack that was instrumental to restoring normal flows of oil supplies between the two countries due to the ongoing collaboration between BAPCO and Aramco.

This came during the 18th meeting of the Higher Committee for Natural Resources and Economic Security, which was chaired by the Crown Prince on Sunday at Riffa Palace.

Minister of Interior Lieutenant General Sheikh Rashid bin Abdullah Al Khalifa and Minister of Oil Sheikh Mohammed bin Khalifa Al Khalifa submitted a presentation on oil pipeline security and maintenance planning in the Kingdom of Bahrain.

Prince Salman bin Hamad also noted the severity of the recent terrorist attack, which was a deliberate act to undermine the security of the Kingdom.

On this note, HRH commended security authorities and Bapco whose collective actions succeeded in bringing the fire under control swiftly while preventing any casualties.

He concluded by praising the efforts of local residents in assisting security authorities, noting that the authorities will continue to work hard to meet their needs in the aftermath of the attack.

In this context, Bapco’s Corporate Communications Head Nawaf al-Ghanim said the company stepped up its security monitoring and patrols at the company's facilities and around the pipeline immediately after the blast.



Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.