HomeMarket NewsEmbracing New Horizons: TotalEnergies and Bapco Energies Join Forces for Refinery Optimization...

Embracing New Horizons: TotalEnergies and Bapco Energies Join Forces for Refinery Optimization and Product Trading

Actionable Trade Ideas

always free

Oil oilfield shutterstock 2

Enhancing Collaboration: TTEΒ has solidified a strategic partnership with Bapco Energies from Bahrain, focusing on advanced refinery optimization and product trading.

Crafting Brilliance: TotalEnergies will provide critical support to Bapco Energies in optimizing its Sitra refinery, currently undergoing upgrades, while fostering collaborative efforts in the trading of petroleum products.

Global Expertise Unleashed: Leveraging its global oil and feedstock supply capabilities and refined trading knowledge, TotalEnergies is geared up to drive transformation within the partnership.

Promising Future: Patrick PouyannΓ©, Chairman and CEO of TotalEnergies, expressed enthusiasm about the collaboration, highlighting the potential for future ventures beyond traditional oil and petroleum products into emerging areas like LNG and renewable energy.

A Visionary Approach: Highness Shaikh Nasser bin Hamad Al Khalifa, Chairman of Bapco Energies, underscored the significance of the partnership in fueling growth for Bahrain, especially with the imminent completion of the US$7 billion Bapco Modernization Programme (BMP) refinery upgrade project.

Expanding Horizons: TotalEnergies recently expanded its portfolio by signing a sale and purchase agreement with Sembcorp Fuels, a subsidiary of Sembcorp Industries based in Singapore.

Financial Triumph: Despite a 12% year-on-year decline in hydrocarbon production, TotalEnergies surpassed revenue expectations with a robust $59.237 billion in the fourth quarter of FY23, exceeding consensus estimates and hiking quarterly dividends by 7.1% to €0.79.

Market Performance: TTE shares displayed resilience, rising by 0.50% to $64.82 in premarket trading as of the latest update on Monday.

Photo Credits: Shutterstock

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.