Bapco Energies and TotalEnergies marked a significant milestone in their strategic partnership with a signing ceremony witnessed by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, Chairman of Bapco Energies, and Mr. Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, to formally launch BxT Trading, the strategic joint venture focused on petroleum products trading. The ceremony was attended by H.E. Dr. Mohamed bin Mubarak Bin Daina, Minster of Oil and Environment and Special Envoy for Climate Affair, alongside a number of officials from Bapco Energies, TotalEnergies and BxT Trading.
The launch of BxT Trading builds on a series of high-level engagements between Bapco Energies and TotalEnergies throughout 2024, which culminated in an agreement to combine Bapco Energies’ regional strength with TotalEnergies’ global trading expertise. The joint venture is designed to enhance value creation across the Kingdom’s downstream portfolio, strengthen Bahrain’s access to international markets, and develop advanced trading, pricing, and risk management capabilities.
His Highness Shaikh Nasser bin Hamad Al Khalifa affirmed that the launch of BxT Trading reflects the Kingdom’s commitment to forging long-term strategic partnerships with leading global energy companies. His Highness highlighted that the joint venture supports the vision of His Majesty King Hamad bin Isa Al Khalifa and the aspirations of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to strengthen Bahrain’s energy sector, expand its global reach, and support sustainable economic growth.
“The establishment of BxT Trading represents a strategic step forward for Bapco Energies and the Kingdom of Bahrain. Through this partnership with TotalEnergies, we are enhancing our global trading capabilities, strengthening our downstream value chain, and reinforcing Bahrain’s position as a competitive and trusted player in international energy markets.”
“We are happy about this partnership with Bahrain and Bapco Energies, which strengthens our presence in the Middle East. BxT Trading reflects our long-standing commitment to act as a trusted partner in the region, dedicated to innovation, operational excellence and value creation.”
BxT Trading is strategically positioned to serve key local and international markets, leveraging world-class trading capabilities, market access, and a robust risk management framework. The JV will be responsible for trading refined petroleum products, supporting Bahrain’s downstream sector while enhancing market access for both partners.
The formation of BxT Trading aligns with Bapco Energies’ strategy to broaden its commercial portfolio through global partnerships that support the Kingdom of Bahrain’s economic growth and energy sector resilience. By participating in global markets through BxT Trading, the Group enhances its exposure to international best practices in trading, analytics, and risk management.
