Bahrain is in the process of hiring advisers to help sell stakes in some of its oil and gas assets as the Gulf’s smallest economy looks to open up an industry closed to foreign investments for decades. Nogaholding, which owns Bahrain’s oil and gas assets, is due to appoint a consultant and a financial adviser to work on a national energy strategy. Bahrain would be following a strategy similar to its larger neighbors, Saudi Arabia and the United Arab Emirates. Nogaholding is also in the process of refinancing a $1.6 billion loan, which includes some environment, sustainability, and governance targets.
- Bahrain Says ‘Everything’s on the Table’ for Oil Privatizations