TotalEnergies and Bapco Energies are launching BxT Trading, an equally owned trading joint venture backed by products from Bapco Energies' refinery
BxT Trading will support Bahrain's oil industry by leveraging its downstream portfolio to maximise value and broaden its access to global markets. Through the joint venture, Bapco Energies will benefit from TotalEnergies' global expertise in trading and will develop advanced trading, pricing, analysis, and risk management capabilities.
With BxT Trading, TotalEnergies is strengthening its trading position in the Middle East, where the company already has trading activities, in addition to its international hubs in Houston, Geneva and Singapore. This new initiative enhances the trading teams' responsiveness and agility, reinforcing their local footprint that enables them to better respond to regional requirements.
His Highness Shaikh Nasser bin Hamad Al Khalifa, representative of His Majesty for Humanitarian Works and Youth Affairs and chairman of Bapco Energies said the launch of BxT Trading reflects the Kingdom's commitment to forging long-term strategic partnerships with leading global energy companies.
“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 the international energy markets.”
Patrick Pouyanné, chairman and CEO of TotalEnergies, said the new partnership will strengthen its presence in the Middle East, adding “BxT Trading reflects our long-standing commitment to act as a trusted partner in the region, dedicated to innovation, operational excellence and value creation.”
Following its modernisation under the Bapco Modernisation Program, production levels at Bapco Energies’ Sitra refinery have risen from 265,000 bpd to 380,000 bpd, with the addition of new refining units.
TotalEnergies and Bapco Energies launch trading venture
The new initiative will enable Bapco Energies to enhance its global trading capabilities and strengthen its downstream value chain. (Image source: Adobe Stock)
