TotalEnergies and Bapco Energies Form Joint Venture BxT Trading
TotalEnergies and Bapco Energies have announced the formation of a joint venture, BxT Trading, to manage trading operations from Bapco's Sitra refinery. This partnership expands TotalEnergies' presence in the Middle East and leverages a refinery undergoing significant capacity expansion.
Insights:
TotalEnergies SE and Bapco Energies have unveiled a strategic partnership with the formation of a 50-50 joint venture named BxT Trading, set to handle trading operations for refined products from Bapco's Sitra refinery in Bahrain. Announced on January 14, 2026, following a signing ceremony in Abu Dhabi on January 13, this venture marks a significant expansion of TotalEnergies' downstream operations in the Middle East.
The Sitra refinery, which currently operates at a capacity of 267,000 barrels per day, is undergoing a transformation to increase its output to 380,000 barrels per day. This expansion is part of a broader 2024 agreement between TotalEnergies and Bapco Energies, aimed at modernizing the refinery and exploring renewable energy and LNG partnership opportunities. BxT Trading will provide a dedicated platform for trading operations in a region that holds strategic importance for both companies.
