Energies 
in motion

An asset‑backed trading joint venture between Bapco Energies and TotalEnergies. 

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About
BxT Trading
BxT Trading unites the global trading expertise of TotalEnergies Trading SA (TOTSA) with the market access, infrastructure and regional depth of Bapco Energies. From our base in the Dubai International Financial Centre (DIFC), we operate at the crossroads of international oil flows and a mature trading ecosystem. Our mandate is to deliver efficient, reliable and competitive energy flows—from source to destination—through disciplined execution and advanced market insight.
What we do
BxT Trading is focused on refined products.
Physical oil trading

We market refined products—prioritizing the Kingdom of Bahrain export cargoes—and selected third-party flows.

Storage

We lease and manage international storage.

Price risk management

We employ robust hedging strategies and financial instruments to mitigate market volatility.

Shipping

We charter vessels to support reliable, end-to-end execution.

Our founding partners
BxT Trading is a 50/50 joint venture between Bapco Energies and TotalEnergies.
TotalEnergies / TOTSA
TotalEnergies is a broad international energy company active in more than 120 countries, with strong global trading capabilities across oil, biofuels, gas and power. Trading entities operate from Geneva, Paris, Houston, Singapore and Dubai. Through its Trading & Shipping Division, TotalEnergies ranks among the world’s largest oil traders. TOTSA TotalEnergies Trading SA—incorporated in Geneva in 1984—is a wholly‑owned subsidiary that manages physical trading and shipping of crude and refined products.
Bapco Energies
Bapco Energies is the integrated energy company leading the energy transition in the Kingdom of Bahrain. Under the leadership of His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty’s Representative for Humanitarian Works and Youth Affairs, Chairman of Bapco Energies, the Company is consolidating the energy value chain to meet the Kingdom of Bahrain’s growing energy demands sustainably. 
Committed to Integrity
In line with the values of our shareholders, we operate to the highest professional and ethical standards and comply with applicable laws and regulations. Our approach is anchored in the Codes of Conduct of TotalEnergies and Bapco Energies.
TotalEnergies Code of Conduct Bapco Energies Code of Conduct
Leadership
Eric Vial
Chief Executive Officer

35+ years in oil & gas trading; senior roles at TotalEnergies across paper and physical markets; co‑founded the OTC marketplace that evolved into ICE following its merger with IPE. Dual master's in Business Administration and Applied Structured Finance.

Sanjeev Chadha
Chief Financial Officer

15+ years in global commodities trading and shipping, with international roles at Maersk Oil Trading, EDF Trading, Noble Group, and Centrica; oversees capital and funding strategy, and market/credit/liquidity risk. Fellow Chartered Accountant (ICAEW) and Executive MBA.

Frédéric Lassau
Head of Trading

17 years in oil products trading; experience at TotalEnergies, BB Energy and Shell Trading across Europe and Asia; leads trading strategy, execution and market development. Double master’s in Civil Engineering and Petroleum Products.

Irfanullah Khan
Head of Compliance, Internal Control & Corporate Services

20+ years across commodity trading and refining (Glencore, Saudi Aramco, Sinopec), plus consulting with KPMG and Openlink. Oversees compliance, internal control and corporate services (IT, HR, Legal). BA (Hons) in Finance; MBA in Energy & Sustainability.

Stuart Kennion
Head of Operations & HSE

25 years in refining and oil trading operations with TotalEnergies across multiple hubs; leads Operations & HSE, trading execution and operational excellence. BSc in Fuel & Energy Engineering; postgraduate Diploma in Management Studies.

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Contact us to discuss business opportunities and potential partnerships. 

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