OGHCOn the Go Healthcare Inc (stock symbol)
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Finnish oil refining and marketing company Neste Oil Corporation (OMX Helsinki:NES1V) announced on Monday (16 June) that Neste Oil Corporation, Bahrain's Oil & Gas Holding Company (OGHC), and the Bahrain Petroleum Company (Bapco) have decided to establish a joint venture.
The Oil and Gas Holding Company (OGHC), owned by the National Oil and Gas Authority (Noga) has meanwhile signed a $120 million agreement with Ahli United Bank to finance its 27.5 per cent stake in the plant.
The Bahraini government, represented by the Oil and Gas Holding Company (OGHC) and Bapco, owns a 55 per cent stake in the JV (named the Bahrain Lubricant Basic Oil Lubrication Holding Company Limited), leaving a 45 per cent stake for Neste Oil Corporation.