His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, announced the launch of BxT Trading, a strategic joint venture for petroleum products trading. The initiative reflects the Kingdom of Bahrain’s commitment to building long-term partnerships with leading global energy companies, in line with the vision of His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

The joint venture aims to advance the transformation of Bahrain’s energy sector and expand its global reach, supporting sustainable economic growth.

Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, and Dr Mohamed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, were present.

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.

HH Shaikh Nasser bin Hamad affirmed that the launch of BxT Trading reflects the Kingdom’s commitment to forging long-term strategic partnerships with leading global energy companies. He said that the establishment of BxT Trading represents a strategic step forward for Bapco Energies and the Kingdom. He added that through this partnership with TotalEnergies, Bahrain is enhancing its global trading capabilities, strengthening its downstream value chain, and reinforcing its position as a competitive and trusted player in international energy markets.

Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said that the partnership with Bahrain and Bapco Energies strengthens the company’s presence in the Middle East. He added that BxT Trading reflects TotalEnergies’ ongoing commitment to act as a trusted partner in the region, focused on 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.