Bapco Energies and TotalEnergies marked a milestone in their strategic partnership with the launch of BxT Trading, a strategic joint venture focused on petroleum products 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 Bahrain’s downstream portfolio,
strengthen Bahrain’s access to international markets, and develop advanced
trading, pricing, and risk management capabilities.
BxT Trading is 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.
Shaikh Nasser bin
Hamad Al Khalifa, Chairman of the Board, Bapco Energies, affirmed that the launch of BxT Trading
reflects the Kingdom’s commitment to forging long-term strategic partnerships
with leading global energy companies.
He highlighted that the
joint venture supports the vision of His Majesty King Hamad bin Isa Al Khalifa
and the aspirations of 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.
Shaikh Nasser said: “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.”
Patrick PouyannéChairman
and CEO of TotalEnergies, said: “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.” -TradeArabia News Service
