Oil Minister Says his Ministry will Invest “Retirement Funds” in its Projects
2018-05-11 - 9:31 p
Bahrain Mirror: Oil Minister Mohammed bin Khalifa Al Khalifa (son of BDF commander-in-chief Marshal Khalifa bin Ahmed) said that the ministry is studying the launch of investment fund with the cooperation of (Osool) that manages general organization for social insurance in order to invest in the country's oil sector.
The minister expected to launch the fund within the current year, stressing that "investment opportunities in the oil sector have high returns" and they would be between 15-20%.
The Minister said that "these funds will disassociate during 5-7 years. It will be discussed whether the company will be enlisted in Bahrain's financial market or not."
Bahrain's Government needs to borrow to finance oil refinery expansion and other projects. Besides, the National Oil and Gas Authority has already floated international bonds worth $3 billion to fund its project.