TotalEnergies and Bapco forge petroleum trading partnership

Bapco Energies, the integrated energy company at the forefront of Bahrain’s energy transition, and TotalEnergies, a global integrated energy company based in Paris, France, have officially signed a strategic partnership agreement to enhance petroleum products trading. This comes as a result of the collaborative foundation established earlier this year during TotalEnergies’ Chairman and CEO Patrick Pouyanné’s visit to the Kingdom of Bahrain.

The joint venture is part of Bapco Energies’ broader transformation efforts aimed at positioning Bahrain as a key player in the international energy market and is a significant milestone for Bapco Energies.

The signing ceremony took place in Paris and was attended by His Highness Shaikh Nasser bin Hamad Al Khalifa, chairman of Bapco Energies, along with senior representatives from both companies. Key attendees included Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs Dr. Mohammed bin Mubarak bin Daina; Abdulla Al Zain, chairman of Bapco Refining; Mark Thomas, Group CEO of Bapco Energies; and Dr. Abdulrahman Jawahery, CEO of Bapco Refining.

Commenting on the joint venture, Al Khalifa commended this trading partnership as one of the many strategic initiatives within Bapco Energies’ ongoing transformation efforts in Bahrain’s energy landscape.

He emphasised the important role this partnership will play in setting up Bapco Energies to compete on the global stage and become a key player in the international energy market. Al Khalifa expressed that this partnership is the culmination of a collective effort between Bapco Energies and TotalEnergies, allowing both companies to unlock new avenues for growth in the years to come.

This strategic alliance aims to optimise Bapco Energies’ trading capabilities by leveraging TotalEnergies’ global petroleum product trading expertise. The collaboration is expected to begin in July 2024 and is set to enhance Bapco Energies’ trading strategies, allowing the company to capture new market opportunities and expand its influence through TotalEnergies’ extensive network.

Additionally, this partnership will foster the development of human capital by providing Bapco Energies’ workforce with exposure to world-class expertise in trading and risk management.