Bahrain has taken a key step towards positioning itself as a major player in energy trading by announcing the launch of BxT Trading, a joint venture between TotalEnergies and Bapco Energies. This new entity, with equal ownership between the two companies, will operate from the Kingdom and will be backed by Bapco’s refinery flows.
The official presentation of the joint venture took place in Abu Dhabi and was attended by His Highness Sheikh Nasser bin Hamad Al Khalifa, representative of His Majesty the King of Bahrain for Humanitarian Works and Youth Affairs and chairman of Bapco Energies, and Patrick Pouyanné, chairman and CEO of TotalEnergies.
Strengthening the downstream sector
The objective of BxT Trading is to maximize the value of Bahrain’ s oil products portfolio by accessing international markets. This company will act as a new regional competitor, leveraging TotalEnergies’ global expertise in trading, pricing, analysis and risk management.
For Bapco Energies, the partnership represents an opportunity for business development and strengthening of its value chain in the downstream sector. downstream sector. The platform will also increase operational agility and improve responsiveness in markets with regional specificities.
Leaders’ statements
The launch of BxT Trading reflects the Kingdom’s commitment to forging long-term strategic partnerships with leading global energy companies. [Through this partnership with TotalEnergies, we are enhancing our global trading capabilities, strengthening our downstream value chain and consolidating Bahrain’s position as a competitive and trusted player in international energy markets.
His Highness Sheikh Nasser bin Hamad Al Khalifa, His Majesty’s Representative for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies.
We are pleased with this new partnership with Bahrain and Bapco Energies, which strengthens our presence in the Middle East. BxT Trading reflects our long-term commitment to be a trusted partner in the region, committed to innovation, operational excellence and value creation.
Patrick Pouyanné, President and CEO of TotalEnergies.
Regional and global positioning
The new company joins TotalEnergies’ existing business operations in Houston, Geneva and Singapore, expanding its network to a strategic region such as the Middle East and is committed to maintaining high standards in risk management, safety and sustainability.
With the backing of a government willing to promote international partnerships and a global company such as TotalEnergies, BxT Trading could become one of the region’s leading operators of petroleum products. This union marks a stage of integration between international expertise and local resources, in line with Bahrain’s energy growth strategies.
Source: TotalEnergies
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