Editing Economy of Bahrain (section)

== Hydrocarbon industry ==
[[File:Weatherford International nodding donkey pump, Bahrain.jpg|thumb|Nodding donkey crude oil pump in Bahrain (2019)]]
[[Petroleum]] and [[natural gas]] are the only significant natural resources in Bahrain.  Because of limited reserves, Bahrain has worked to diversify its economy over the decade prior to 2004.  Bahrain has stabilized its oil production at about 40,000 barrels (6,400 m³) per day, and reserves are expected to last 10 to 15 years.  The [[Bahrain Petroleum Company]] refinery was built in 1935, has a capacity of about 250,000 barrels (40,000 m³) per day, and was the first in the Persian Gulf. After selling 60% of the refinery to the state-owned [[Bahrain National Oil Company]] in 1980, [[Caltex]], a U.S. company, now owns 40%. Saudi Arabia provides most of the crude for refinery operation via pipeline. Bahrain also receives a large portion of the net output and revenues from Saudi Arabia's Abu Saafa offshore oilfield.

The [[Bahrain National Gas Company]] operates a gas liquefaction plant that utilizes gas piped directly from Bahrain's oilfields. Gas reserves should last about 50 years at present rates of consumption. The [[Gulf Petrochemical Industries Company (GPIC)]] is a joint venture of the petrochemical industries of Kuwait, the Saudi [[Basic Industries Corporation]], and the Government of Bahrain. The plant, completed in 1985, produces [[ammonia]], [[methanol]] and [[urea]] for export.

Bahrain's other industries include Aluminum Bahrain, which operates an aluminum smelter—the largest in the world with an annual production of about 1,500,000 metric tons—and related factories, such as the [[Aluminum Extrusion Company]] and the Gulf Aluminum Rolling Mill Company (GARMCO)[http://www.garmco.com]. Other plants include the Arab Iron and Steel Company's iron ore pelletizing plant (4 million tons annually) and a shipbuilding and repair yard.

Bahrain's development as a major financial center has been the most widely heralded aspect of its diversification effort.  International financial institutions operate in Bahrain, both offshore and onshore, without impediments. In 2001, Bahrain's central bank issued 15 new licenses.  More than 100 offshore banking units and representative offices are located in Bahrain, as well as 65 American firms. [[Bahrain International Airport|Bahrain's international airport]] is one of busiest in the Persian Gulf, serving 22 carriers.  A modern, busy port offers direct and frequent cargo shipping connections to the U.S., Europe, and the Far East.  Internationally recognised Bahraini companies include [[Investcorp]], the venture capital firm credited with turning around the fortunes of [[Gucci]].