TotalEnergies and Bapco Energies launch BxT Trading to boost Bahrain’s downstream value and expand petroleum trading across global markets.
TotalEnergies and Bapco Energies have formally announced the launch of BxT Trading, a new petroleum products trading joint venture that will operate as a competitive player in the Middle East energy markets. The new entity is equally owned by both partners and will be underpinned by product flows originating from Bapco Energies’ refinery, ensuring a stable and reliable supply base from the outset.
The signing ceremony marking the establishment of BxT Trading was held in Abu Dhabi and was attended by senior leadership from both organizations. The event was witnessed by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, alongside Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies. Their presence highlighted the strategic importance attached to this partnership by both sides.
BxT Trading is designed to strengthen Bahrain’s oil and downstream sector by maximizing value from refined petroleum products and expanding access to international markets. By leveraging Bapco Energies’ refinery output and downstream portfolio, the joint venture aims to enhance marketing reach while optimizing pricing strategies across regional and global destinations. This structure is expected to provide Bahrain’s energy sector with greater flexibility and resilience amid evolving global energy dynamics.
For Bapco Energies, the partnership represents a significant step in building advanced trading capabilities. Through collaboration with TotalEnergies, the company will benefit from extensive global expertise in commodities trading, including sophisticated pricing methodologies, market analysis, logistics optimization, and risk management practices. Over time, this knowledge transfer is expected to strengthen Bapco Energies’ internal competencies and support the long-term development of Bahrain’s energy trading ecosystem.
From TotalEnergies’ perspective, the creation of BxT Trading further consolidates its trading footprint in the Middle East, a region of growing strategic importance for global energy flows. While TotalEnergies already operates trading activities in the region, this new venture complements its established international trading hubs in Houston, Geneva, and Singapore. By adding a locally anchored platform in Bahrain, the company enhances the responsiveness and agility of its trading operations, enabling teams to react more quickly to regional market conditions and customer needs.
Commenting on the launch, His Highness Shaikh Nasser bin Hamad Al Khalifa emphasized that BxT Trading reflects the Kingdom of Bahrain’s commitment to forging long-term strategic partnerships with leading global energy companies. He noted that the joint venture represents a forward-looking milestone for Bapco Energies and the nation, strengthening the downstream value chain while reinforcing Bahrain’s reputation as a reliable and competitive participant in global energy markets.
Patrick Pouyanné echoed these sentiments, expressing satisfaction with the new partnership and underlining TotalEnergies’ long-standing commitment to the Middle East. He described BxT Trading as a reflection of the company’s approach to building trusted relationships in the region, grounded in operational excellence, innovation, and sustainable value creation.
Overall, the launch of BxT Trading marks an important development for both partners. It combines Bahrain’s refining strengths with TotalEnergies’ global trading expertise, creating a platform positioned to capture value, enhance market access, and contribute to the continued evolution of the Middle East’s energy trading landscape.
