TotalEnergies and Bapco Energies have launched BxT Trading, a new joint venture focused on trading petroleum products in the Middle East.
The new venture, equally owned by the two partners, will be supported by product flows from Bapco Energies’ refinery and is intended to strengthen Bahrain’s downstream value chain and expand access to global markets. The companies said BxT Trading will operate as a regional trading platform, combining local supply with international market reach.
Through the joint venture, Bapco Energies will gain access to TotalEnergies’ trading expertise, including pricing, market analysis, and risk management capabilities. The move is aimed at enhancing the commercial performance of Bahrain’s refining operations and supporting the development of more advanced trading functions.
For TotalEnergies, the launch of BxT Trading strengthens its trading presence in the Middle East, where it already operates alongside its global trading hubs in Houston, Geneva, and Singapore. The company said the new venture will improve responsiveness to regional market dynamics and support its broader trading activities.
The signing ceremony was attended by Shaikh Nasser bin Hamad Al Khalifa, chairman of Bapco Energies, and Patrick Pouyanné, chairman and chief executive officer of TotalEnergies, at an event in Abu Dhabi.
The companies did not disclose financial terms. BxT Trading is expected to help position Bahrain as a competitive participant in international petroleum markets while supporting the country’s broader energy strategy.
