Bahrain: TotalEnergies and Bapco Energies join forces to trade oil products

Download the press release (PDF)

Manama, 4 March 2024 – Patrick Pouyanné, Chairman and CEO of TotalEnergies, met yesterday in Bahrain, His Highness Sheikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Work and Youth and President of Bapco Energies, the Bahraini national company of responsible for the Kingdom’s energy transition, and Mark Thomas, general manager of the Bapco Energies group.

This meeting made it possible to establish the basis for the cooperation between TotalEnergies and Bapco Energies: TotalEnergies will support Bapco Energies in the optimization of its Sitra refinery, whose modernization is underway, and in the trade of its oil products. TotalEnergies will thus bring its global oil and commodity supply capacity and its expertise in refining and trading.

We are delighted to have been selected by the Bahraini authorities to support Bapco Energies in optimizing their downstream oil sector to maximize its value to Bahrain. I hope that this new partnership marks the start of a promising relationship between TotalEnergies and the Kingdom of Bahrain. ” said, Patrick Pouyanné, Chairman and CEO of TotalEnergies.TotalEnergies is truly a global integrated multi-energy company and we want to bring all our expertise in the oil, LNG and electricity value chains to the benefit of the Kingdom of Bahrain and Bapco Energies. In addition to oil and petroleum products, we will work to extend this cooperation to other forms of energy, such as LNG or renewable energy. »

We are delighted to welcome such a respected and recognized global player in energy trading. This collaboration between Bapco Energies and TotalEnergies will identify market opportunities for oil and gas products from the Kingdom of Bahrain, while offering new energy solutions to our customers. Later this year, as part of the start of production at our refinery, following the modernization project – Bapco Modernization Program (BMP) – worth 7 billion USD, this partnership with TotalEnergies will help consolidate a solid base of customers, that is able to absorb our additional production. We look forward to working in partnership with their teams, who will bring their experience and technologies to Bapco Energies, ” added His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Work and Youth.

Thanks to TotalEnergies’ global expertise in the trading of petroleum products and the optimization of raw materials from the refineries, this new collaboration with TotalEnergies will add significant added value to the Kingdom of Bahrain and Bapco Energies. We are pleased to partner with TotalEnergies to strengthen Bapco Energies’ brand as a trusted global supplier of quality products, ” concluded Mark Thomas, CEO of Bapco Energies Group.

***

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and supplies energy: oil and biofuels, natural gas and green gas, renewable energy and electricity. Its more than 100,000 employees are committed to energy that is increasingly affordable, more sustainable, more reliable and accessible to as many people as possible. TotalEnergies is present in almost 130 countries and puts sustainable development in all its dimensions at the center of its projects and operations to contribute to the well-being of the population.

Contact TotalEnergies

Total energy on social networks

Warning
The terms “TotalEnergies”, “TotalEnergies company” and “Company” appearing in this document are used to denote TotalEnergies SE and the consolidated entities that TotalEnergies SE controls directly or indirectly. Likewise, the terms “we”, “us”, “our” may also be used to refer to these entities or their business partners. The entities in which TotalEnergies SE directly or indirectly owns a share are separate and independent legal entities. This document may contain forward-looking statements. They may prove to be inaccurate in the future and are dependent on risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation or responsibility to investors or other stakeholders to update or revise, in particular as a result of new information or future events, any or all parts of the statements, forward-looking information, trends or the objectives of this document. Information about risk factors that are likely to have a material adverse effect on TotalEnergies’ financial results or activities is also available in the most up-to-date versions of the universal registration document that TotalEnergies SE has submitted to the Autorité des marchés financiers. financial markets and Form 20-F filed with the United States Securities and Exchange Commission (“SEC”).

Leave a Comment