HH Shaikh Nasser bin Hamad Unveils Strategic Energy Trading Partnership

Email:online@newsofbahrain.com

Manama: 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 with TotalEnergies for the trading of petroleum products.

The initiative reflects the Kingdom of Bahrain’s commitment to strengthening 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 supports Bahrain’s efforts to transform its energy sector, expand its global presence, and drive sustainable economic growth.

The launch ceremony was attended by 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.

BxT Trading builds on a series of high-level engagements between Bapco Energies and TotalEnergies throughout 2024, culminating in an agreement to combine Bapco Energies’ regional strengths with TotalEnergies’ global trading expertise. The joint venture is designed to enhance value creation across Bahrain’s downstream portfolio, strengthen access to international markets, and develop advanced trading, pricing, and risk management capabilities.

HH Shaikh Nasser bin Hamad affirmed that the establishment of BxT Trading represents a strategic milestone for both Bapco Energies and the Kingdom of Bahrain. He noted that the partnership enhances Bahrain’s global trading capabilities, strengthens its downstream value chain, and reinforces its position as a competitive and trusted player in international energy markets.

Patrick Pouyanné said the partnership further strengthens TotalEnergies’ presence in the Middle East, adding that BxT Trading reflects the company’s commitment to acting as a trusted partner in the region, with a focus on innovation, operational excellence, and value creation.

Strategically positioned to serve key local and international markets, BxT Trading will leverage world-class trading capabilities, market access, and a robust risk management framework. The joint venture will be responsible for trading refined petroleum products, supporting Bahrain’s downstream sector and 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 Bahrain’s economic growth and strengthen the resilience of its energy sector.