Bapco Energies + Total Energies form a petroleum product trading JV

Bahrain’s Bapco Energies has inked a strategic partnership agreement with France’s TotalEnergies to form a joint venture (JV) for trading petroleum products, according to a statement. The partnership will commence this month allowing Bapco to expand its markets globally, gaining access to TotalEnergies’ network.

Background: The pair first agreed to explore collaboration back in March when Bapco chairman Nasser bin Hamad Al Khalifa met with Chairman and CEO of TotalEnergies Patrick Pouyanné, according to a separate statement. TotalEnergies agreed at the time to work with Bapco on advancing petroleum product trading and operations at its under-development Sitra refinery.

About Bapco Energies: State-owned Bapco Energies operates a portfolio including wholly-owned subsidiaries including Bapco Refining, Bapco Gas, Bahrain LNG, and BAC Jet Fuel among others.