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His Majesty King Hamad bin Isa Al Khalifa

New decree on powers of Oil and Gas Holding Co

MANAMA, October 20, 2021

His Majesty King Hamad bin Isa Al Khalifa of Bahrain today issued a decree amending Article (1) of Decree 105 of 2021 on defining the competent authorities in accordance with Law 10 of 2006 regarding some tasks and competencies of the relevant authorities in oil and gas and the amendment of some provisions of Decree-Law 42 of 1999 on the establishment of Bahrain Petroleum Company.
 
A Bahrain News Agency report said, according to the decree (Decree 108 of 2021), the second paragraph of Royal Decree 105 shall be replaced by the following:
“As an exception to the provisions of the first paragraph of this article, the Oil and Gas Holding Company shall be the competent authority responsible for appointing the boards of directors of companies that carry out business related to the oil industries and wholly owned by the state, and to select government representatives in the boards of directors and general assemblies of companies in which the state contributes a share in their capital.
 
"The Oil and Gas Holding Company shall also be the competent authority stipulated in Article (2) of Law 10 of 2006 regarding some tasks and competencies of the relevant authorities in oil and gas and the amendment of some provisions of Decree-Law 42 of 1999 on the establishment of Bahrain Petroleum Company.”
 
The Prime Minister and ministers, each in their capacity, shall implement the provisions of this decree, which comes into force immediately and will be published in the Official Gazette, the BNA report said.



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