Published by Global Banking & Finance Review®
Posted on January 14, 2026
2 min readLast updated: January 19, 2026
Add as preferred source on GoogleTotalEnergies and Bapco Energies form BxT Trading in Bahrain to enhance oil trading and explore renewable energy projects.
By America Hernandez
PARIS, Jan 14 (Reuters) - French oil major TotalEnergies has formed a 50-50 joint venture with Bahrain's Bapco Energies called BxT Trading, it said on Wednesday.
The Middle East-focused venture will trade in relation to products from Bapco's 267,000 barrels-per-day Sitra refinery.
The partnership builds on a 2024 deal under which Total agreed to help expand and modernise Sitra to reach throughput capacity of 380,000 barrels per day and share the French firm's trading expertise, while exploring options to partner with Bahrain on projects in renewable energy or liquefied natural gas.
"Through this partnership with TotalEnergies we are enhancing our global trading capabilities, strengthening our downstream value chain, and reinforcing Bahrain's position as a competitive and trusted player in the international energy markets," Bapco Energies Chairman Shaikh Nasser bin Hamad Al Khalifa said in a statement.
TotalEnergies CEO Patrick Pouyanne said the joint venture strengthened Total's Middle East presence
The two executives held a signing ceremony on Tuesday in Abu Dhabi.
(Reporting by America Hernandez in Paris. Editing by Mark Potter)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific task, sharing profits, losses, and control of the enterprise.
A refinery is an industrial facility that processes crude oil into useful products such as gasoline, diesel, and other petrochemicals.
Renewable energy is energy derived from natural processes that are continuously replenished, such as solar, wind, and hydroelectric power.
The downstream value chain refers to the processes involved in refining crude oil and distributing the final products to consumers.
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