“Bloomberg”: Bahrain looks for investors in a pipeline to transport oil from Saudi Arabia

Bahrain is looking for investors for a major oil pipeline that carries crude oil from Saudi Arabia.

According to Bloomberg, Bahrain could raise hundreds of millions of dollars from the sale of the stake.

The pipeline can transport up to 350,000 barrels of oil per day, and connects Saudi oil processing facilities in Abqaiq to the Bapco refinery in Bahrain.

Bahrain was looking to appoint advisors to help sell stakes in some of its oil and gas assets, as this is part of the government’s efforts to open an industry that has been closed to foreign investment for decades.

Bahrain is pursuing a strategy similar to its neighboring Gulf countries in offering some shares of the energy industry to investors.