When Donald G. Schnabel visited Bahrain in 1957 he was there for the oil industry. I can't prove it, but all indications are it was a business trip for oil, possibly Standard Oil. His visit included a visit to BAPCO, the Bahrain Petroleum Company.
The BAPCO was established in 1929 in Canada by Standard Oil Company of California for oil exploration activities in Bahrain. It took over Bahrain's assets of Gulf Oil. In 1930 it obtained the only oil concession in Bahrain. On 31 May 1932, the company discovered the Awali oil field. In 1936 the Standard Oil Company of California signed an agreement with Texaco, which acquired a half of BAPCO's shares.
In 1975 more than 60% BAPCO's shares was acquired by the Government of Bahrain. In 1980, all BAPCO's shares were taken over by the Government of Bahrain. In 1999 the current Bahrain Petroleum Company was created when the Bahrain National Oil Company, established in 1976, merged with BAPCO. (SOURCE: Wikipedia)
I find it fascinating how much the red star logo reminds me of the TEXACO star. The story is that the TEXACO star is to represent the "lone star" of Texas. So, which logo came first? The one in Bahrain or the one in Texas?