A holding company may be set up to control state shares in oil and gas firms in response to a joint memo forwarded to the cabinet.

The Cabinet, chaired by Prime Minister Shaikh Khalifa bin Salman Al Khalifa, forwarded the memo to the ministerial  committee for financial and economic affairs for further study.

The companies concerned are Bapco, Bahrain National Gas Company, Bahrain Gas Expansion Project Company, Bahrain Aviation Fuelling Company and Gulf Petrochemical Industries Company. TradeArabia News Service