Manama: Bapco Energies, the integrated energy company leading the
energy transition in the Kingdom of Bahrain, and TotalEnergies, a global integrated energy
company, announced the official signing of a strategic partnership agreement for petroleum
products trading.
This joint venture marks a significant milestone for Bapco Energies and the Kingdom of Bahrain
as it aligns with the vision of His Majesty King Hamad bin Isa Al Khalifa’s and the aspirations of
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for
the Kingdom’s energy sector.
Commenting on the joint venture, His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty
the King’s Representative for Humanitarian Works and Youth Affairs, Chairman of Bapco
Energies commended this trading partnership as it stands as one of the many strategic
initiatives within Bapco Energies’ ongoing transformation efforts in the Kingdom of Bahrain’s
energy landscape.
He emphasised the important role this partnership wi
ll play in setting up Bapco Energies to compete on the global stage and to become a key player in the international energy market. His Highness expressed that this partnership is a culmination of a collective effort between Bapco Energies and TotalEnergies, allowing both companies to unlock new avenues for growth in years to come.
The signing ceremony, held in Paris, was attended by His Highness Shaikh Nasser bin Hamad Al
Khalifa alongside senior representatives from both entities, including Dr.
Mohammed bin Mubarak bin Daina, Minister of Oil and Environment, Special Envoy for
Climate Affairs; Abdulla Al Zain, Bapco Refining Chairman; Mark Thomas, Bapco Energies Group Chief Executive Officer; and Dr. Abdulrahman Jawahery, Bapco Refining Chief Executive Officer.
The partnership between Bapco Energies and TotalEnergies will create substantial value as it
aims to optimise Bapco Energies’ trading capabilities through TotalEnergies global petroleum
product trading expertise. This comes as a result of the co
llaborative foundation established
earlier this year during TotalEnergies’ Chairman and CEO Patrick Pouyanné’s visit to the
Kingdom of Bahrain.
The partnership, set to commence in July 2024, will also empower Bapco Energies to capture
new market opportunities, enhance its trading strategies, and gain access to TotalEnergies’
extensive network, significantly expanding its reach and influence in the global market.
Furthermore, this partnership will provide opportunities for the development of human capital
through the exposure to world-class expertise in trading and risk management.
Source: Bahrain News Agency