Bahrain oil production at record levels

OIL OUTPUT: Bahrain refineries have hit record levels of production. (Getty Images)

Bahrain's booming oil industry received another boost with news that output from the Arab state's refinery has reached record levels.

A half-year report by the National Oil and Gas Authority revealed refinery output had soared by four per cent to top a record 271,000 barrels a day over the first six months of this year, compared with the same period last year.

Oil Minister and National Oil and Gas Authority chairman Dr Abdulhussain Mirza said in the report that local sales soared by 9.4 percent due to the booming urban development programme and the substantial increase in cars travelling via King Fahad Causeway.

This current urban landmark projects, including highways, avenues and bridges are also behind the rising demand for oil byproducts, the Gulf Daily News reported on Wednesday.

The latest good news for the Bahrain economy comes just days after US research organisation, the Conference Board, said the Gulf state's economic growth was "uniquely sustainable" thanks to successful diversification and "dramatic" increases in labour productivity.

Finance and manufacturing are among the largest sectors, with oil and gas production contributing less than 20 per cent of gross domestic product (GDP) growth.

According the report, Bahrain's output of gas and associate gases increased by 10.6 percent to top 258.227 billion square feet, up by 24.766 billion sq ft compared with last year.

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