TotalEnergies and Bapco Energies have agreed to establish BxT Trading, a 50:50 oil trading joint venture backed by product flows from Bapco Energies’ refinery, strengthening Bahrain’s integration into global energy markets.
The agreement was signed in Abu Dhabi and witnessed by Shaikh Nasser bin Hamad Al Khalifa, chairman of Bapco Energies, and Patrick Pouyanné, chairman and chief executive of TotalEnergies.
Positioned as a new competitive trading platform in the Middle East, BxT Trading is intended to maximise value from Bahrain’s downstream portfolio while expanding access to international markets. Under the partnership, Bapco Energies will draw on TotalEnergies’ global trading expertise to develop advanced capabilities in pricing, market analysis and risk management.
For TotalEnergies, the venture deepens its trading footprint in the Middle East, complementing existing activities and its global hubs in Houston, Geneva and Singapore. The company said the local presence will enhance responsiveness to regional market dynamics.
Shaikh Nasser bin Hamad Al Khalifa described the venture as a strategic step that strengthens Bahrain’s downstream value chain and reinforces the kingdom’s position as a reliable player in international energy markets. Pouyanné said the partnership reflects TotalEnergies’ long-term commitment to the region and its focus on operational excellence and value creation.