TotalEnergies and Bahrain’s state energy company Bapco Energies have announced the launch of BxT Trading, a new equally owned joint venture designed to strengthen Bahrain’s position in global oil markets. The venture will be backed by flows from Bapco Energies’ refinery, marking a strategic step in expanding the kingdom’s downstream trading capabilities.

The signing ceremony took place in Abu Dhabi, attended by  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.

Positioning itself as a competitive new player in the Middle East, BxT Trading aims to maximize value from Bahrain’s oil industry by leveraging its downstream portfolio and widening access to international markets. The partnership will also enable Bapco Energies to tap into TotalEnergies’ global expertise in trading, while building advanced capabilities in pricing, analysis, and risk management.

Industry observers view the joint venture as a significant milestone in Bahrain’s energy strategy, combining local refinery strength with international trading know-how to enhance competitiveness in a rapidly evolving global market.

For TotalEnergies, the joint venture enhances its trading footprint in the Middle East, complementing its existing operations in the region and its major global trading hubs in Houston, Geneva and Singapore. The company said the initiative will improve the responsiveness and agility of its trading teams while reinforcing a stronger local presence tailored to regional market dynamics.

Beyond the newly formed BxT Trading joint venture, TotalEnergies has been working closely with  Bapco Energies to support and optimize the Sitra refinery, one of the kingdom’s key downstream assets. The partnership includes sharing the company’s global oil supply, refining and trading expertise to help maximize the value of Bahrain’s petroleum products.