TotalEnergies, Bahrain’s Bapco launch joint oil products venture

French energy giant TotalEnergies has formed a joint venture with Bahrain’s Bapco Energies aimed at boosting trade in petroleum products across the Middle East.

The venture called BxT Trading will handle flows from Bapco’s expanded Sitra refinery and draw on TotalEnergies’ global expertise to deepen market access.

The companies said they expect the partnership to strengthen Bahrain’s competitiveness and enhance TotalEnergies’ regional presence.

Bapco Chairman Sheikh Nasser Al Khalifa and TotalEnergies CEO Patrick Pouyanne signed the 50-50 venture agreement at a ceremony in Abu Dhabi on Tuesday in Abu Dhabi.