TotalEnergies and Bapco Energies Join Forces in Petroleum Products Trading

Source: 3/4/2024, Location: Middle East

Patrick Pouyanné, Chairman and CEO of TotalEnergies met yesterday in Bahrain with His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of HM the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies - the integrated energy company leading the energy transition in the Kingdom of Bahrain – and Mark Thomas, Group CEO of Bapco Energies.

The meeting laid the foundations for cooperation between TotalEnergies and Bapco Energies, under which TotalEnergies will support Bapco Energies in optimizing its Sitra refinery, which is currently being upgraded, and in trading of its petroleum products. TotalEnergies will bring its global oil and feedstock supply capacity, as well as its refining and trading expertise.

"We are pleased to have been selected by the Bahraini authorities to support Bapco Energies in optimizing their downstream petroleum operations, with a view to maximizing value for Bahrain. I sincerely hope that this new partnership marks the beginning of a promising relationship between TotalEnergies and the Kingdom of Bahrain," said Patrick Pouyanné, Chairman and CEO of TotalEnergies. "We are indeed a global integrated energy company and are willing to bring for the benefit of the Kingdom of Bahrein and Bapco Energies our full expertise along integrated oil, LNG and power value chains. We will work to extend our collaboration beyond oil and petroleum products to potential future developments in other energies, such as LNG or renewable power."

His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies said: "We are pleased to welcome such a respected and experienced global player in the energy trading sector. Bapco Energies and TotalEnergies’ collaboration will pursue opportunities for the Kingdom of Bahrain's oil & gas products and offer new energy solutions to our customers. With the start-up of our US$7 billion Bapco Modernization Programme (BMP) refinery upgrade project later this year, our partnership with TotalEnergies will help build a quality customer base for our expanded production. We look forward to working in partnership with the TotalEnergies’ team and bringing their experience and technology to Bapco Energies."

"This new collaboration with TotalEnergies will bring incremental value to the Kingdom of Bahrain and Bapco Energies through the application of TotalEnergies’ global expertise in product trading and feedstock optimization. We are looking forward to partnering with TotalEnergies to building the Bapco Energies brand as a reliable and trusted global supplier of quality products", concluded Mark Thomas, Group CEO of Bapco Energies.

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