Bahrain: TotalEnergies and Bapco Energies Join Forces in Petroleum Products Trading
04 March 2024 - 6:09PM
Business Wire
Regulatory News:
Patrick Pouyanné, Chairman and CEO of TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE), 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.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
nearly 130 countries, TotalEnergies puts sustainable development in
all its dimensions at the heart of its projects and operations to
contribute to the well-being of people.
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