Monday, July 29, 2019
Bahrain Petroleum Company Bapco Commerce Essay
Bahrain Petroleum Company Bapco Commerce Essay The company has a massive capacity of up to 250,000 barrel of refinery per day. Not only is the gigantic storage capacity of more than 14 million barrels available with the company. Not only that the company owns a marine terminal for marketing and sales of its petroleum products. The new areas of oil and gas reserves are monitored and it is calculated that if the reserves is good enough for exploration that is if the output will exceed the cost that might be input on it. Thus there is a continuous search of oil fields that can help the company to increase its output and sales. Drilling and Production: BAPCO uses advanced drilling techniques and methods to pull out the maximum oil output from its reserves. The company is also working hard to foster more gas as per the rising demand of gas around the world for the vehicle operations. The following diagram shows how the drilling process. Company output: BAPCO has the largest refinery in the Middle East. Its refinery gives an output of 250,000 barrels of crude oil per day. The company gets 1/6th of its crude oil output from Bahrain and the rest from the Saudi Arabia through a fixed pipeline which is 27 kms on land and the other 27kms under the sea. The following diagram shows the refining process. Marketing by BAPCO: As stated earlier only 5% of the BAPCO output is sold in the domestic market and the rest 95% is exported to other countries of the world. These include the countries in the Middle East, Far East, South East Asia and India. BAPCO also sells aviation fuel to Bahrain International Airport through its affiliate. The company holds 60% of the shareholding in BAFCO or Bahrain Aviation Fuelling Company. Purpose, Mission, Vision and Value statement of BAPCO: Purpose of the BAPCO includes collaboration and growth in its field of business that is petroleum and related industries. The company aims at maximizing its contribution to the national income of Bahrain by earning more foreign currency and bringing full employment to its own country citizens. Mission of the company is to create value for money for its customers in the domestic and international market by improving its present operation and quality of integrated oil and gas business. Vision of the company is to achieve excellence in its field and push back its competitors. Values of the company include the innovation, integrity, teamwork, respect and personal accountability to its customers and the kingdom of Bahrain. Sustainability Report: Sustainability report contains the information about the economic health of the company, its working internal and external environment, social and legal position of the company. Mostly the sustainability report can be found out in the operations part of the financial report of the company. In this article we will take a look at the financial report of the company in year 2010. The sustainability report of BAPCO can be figured out as follows. Economic factors. The economic factors of the company signify the development and progress of the company in the coming years. The key figures of the company economic factors include the followings.