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Hot Stocks
Brooge Energy unit commences operations at its Phase II storage facility » 16:28
09/09/21
09/09
16:28
09/09/21
16:28
BROG

Brooge Energy

$8.50 /

-0.02 (-0.23%)

Brooge Energy announced…

Brooge Energy announced that its wholly owned subsidiary, Brooge Petroleum and Gas Investment Company FZE BPGIC, has commenced operations at its Phase II storage facility and received its first cargo, following the successful completion of all testing and commissioning at the site and receipt of regulatory approvals. The new Phase II facility was built to the same exacting and award-winning standards as the Company's Phase I facility, utilizing some of the latest technology to maximize company performance and efficiency, while reducing operating costs. The Company's seamless, automated storage solutions use a superior facility design that is designed to reduce product losses for its end users and offer ancillary solutions such as heating and blending. The facility includes clean petroleum products storage capacity as well as crude oil storage capacity and is fully contracted. BPGIC is now the second largest independent storage operator in the region with capacity of approximately one million cubic meters, or 6.3 million barrels. Nicolaas L. Paardenkooper, CEO of Brooge Energy and BPGIC, said, "This is a major milestone for Brooge Energy and follows months of careful planning, construction, contract negotiations and testing, all while navigating a challenging macro-environment which impacted on our supply chain and construction timelines. We are pleased that our Phase II facility, which now includes capacity to store crude oil along with fuel oil, is officially open and revenue-generating, having received its first cargo. Oil storage in the port of Fujairah in the Middle East is in high demand, which has enabled us to fully contract the entire capacity with multi-year take-or-pay contracts."

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BROG Brooge Energy
$8.50 /

-0.02 (-0.23%)

Over a month ago
Hot Stocks
Brooge Energy announces results of feasability study for Phase III facility » 09:01
07/28/21
07/28
09:01
07/28/21
09:01
BROG

Brooge Energy

$8.25 /

-0.44 (-5.06%)

Brooge Energy released…

Brooge Energy released the results of the feasibility study commissioned for Brooge Energy's Phase III oil storage facility and refinery. The feasibility study supports the financial viability of the Company's Phase III expansion plan, highlighting upcoming infrastructure investments in the region as a key driver of sustainable storage demand and rising domestic and export demand for refined products as a key driver of refinery demand. The Phase III expansion project is for a 2.5 million cbm oil storage facility, a modular 25,000 barrel per day refinery, and a larger 180,000 bpd conventional refinery. The successful build out of Brooge Energy's Phase III facility would position the Company as the largest independent oil storage facility in Fujairah, with capacity to store Clean Petroleum Products; Middle Distillates; High and Low Sulphur Fuel oil as well as crude oil. The Phase III expected construction period is two years, with the Company anticipating it will be operational within 2023. Competitive advantages: Technology: Brooge Energy's terminals are designed to deliver superior ancillary services to clients, reduce operational cost to clients, and increase safety. IMO 2020 compliant; Strategic Location: Located on a prime location in Fujairah, the second largest bunker hub in the world. Modular refinery will be focused on LSFO production which has a shortage in supply. Nicolaas Paardenkooper, CEO of Brooge Energy and BPGIC, said, "The feasibility study defines a project with robust economics and reinforces the strength of our business strategy, highlighting that the oil market is expected to continue to be the most important energy source going forward, with the Middle East region continuing to be the leading producer and exporter of crude over the medium to long term. The midstream sector will remain integral to its proper functioning. Our strategic positioning in Fujairah, where the high utilization of third-party storage terminals along with upcoming infrastructure investments, is expected to drive sustainable and growing demand for our storage solutions. To leverage this opportunity as much as possible, we are building out our technologically-advanced terminals that are able to deliver high margins. We also plan to build out a modular and a conventional refinery, including the capability to comply with the new IMO 2020 low sulphur rule, at a time when the UAE is adding to its oil production capacity which we anticipate will drive demand for refinery services for both the domestic and export market. With the completion of this study, we are now looking forward to potentially starting construction for Phase III as early as the second half of 2021."

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BROG Brooge Energy
$8.25 /

-0.44 (-5.06%)

BROG Brooge Energy
$8.25 /

-0.44 (-5.06%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Hot Stocks
Brooge Energy unit applies for permit for testing in final regulatory step » 16:19
07/14/21
07/14
16:19
07/14/21
16:19
BROG

Brooge Energy

$9.20 /

+ (+0.00%)

Brooge Energy announced…

Brooge Energy announced that its wholly owned subsidiary, Brooge Petroleum and Gas Investment Company FZE, BPGIC, has applied for a permit to commence testing and commissioning for its Phase II storage facility, the final step in order to secure regulatory approval to open the facility. Phase II is fully contracted, and the Company has already commenced receipt of advanced income for Phase II storage fees, which are anticipated to contribute to its revenues in the second half of 2021. The new facility was built to the same exacting and award-winning standards as the Company's Phase I facility. When opened, BPGIC is expected to be the second largest independent storage operator in the region with capacity of approximately one million cubic meters, or 6.3 million barrels.

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BROG Brooge Energy
$9.20 /

+ (+0.00%)

BROG Brooge Energy
$9.20 /

+ (+0.00%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Hot Stocks
Brooge Energy signs agreement with oil trader to produce low sulphur fuel oil » 08:34
07/09/21
07/09
08:34
07/09/21
08:34
BROG

Brooge Energy

$8.61 /

-0.24 (-2.71%)

Brooge Energy announced…

Brooge Energy announced that its wholly owned subsidiary, Brooge Petroleum and Gas Investment Company FZE, has signed a Refinery Agreement with an oil trading company for a 25,000 barrel per day modular refinery. BPGIC will sublease land to the oil trading company, which will be responsible for constructing the refinery including bearing the full cost of construction. When construction is complete, BPGIC will be responsible for operating the refinery, earning revenue from tolling fees on a take-or-pay basis. The agreement between BPGIC and the oil trading company includes a tolling contract for a tenure of 20 years, consisting of a five-year contract to commence upon completion of the construction of the refinery, and three renewal periods of five years each.

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BROG Brooge Energy
$8.61 /

-0.24 (-2.71%)

BROG Brooge Energy
$8.61 /

-0.24 (-2.71%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Over a quarter ago
Hot Stocks
Brooge Energy Ltd trading resumes  09:35
06/17/21
06/17
09:35
06/17/21
09:35
BROG

Brooge Energy

$9.25 /

+ (+0.00%)

 
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BROG Brooge Energy
$9.25 /

+ (+0.00%)

BROG Brooge Energy
$9.25 /

+ (+0.00%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Hot Stocks
Brooge Energy Ltd trading halted, volatility trading pause  09:30
06/17/21
06/17
09:30
06/17/21
09:30
BROG

Brooge Energy

$9.25 /

+ (+0.00%)

 
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BROG Brooge Energy
$9.25 /

+ (+0.00%)

BROG Brooge Energy
$9.25 /

+ (+0.00%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Hot Stocks
Brooge Energy clients renew 233,072 cbm of storage capacity » 08:59
06/01/21
06/01
08:59
06/01/21
08:59
BROG

Brooge Energy

$8.81 /

+ (+0.00%)

Brooge Energy announced…

Brooge Energy announced its customers have successfully renewed their fixed lease contracts for 233,072 cbm of Brooge Energy's Phase I storage capacity, at a premium that is 70% higher than the starting fixed lease storage price of the earlier contracts. The contract renewals consist of a total of 190,072 cbm signed with two clients on three-year terms each consisting of one year plus a two-year mutual renewal clause. The remaining 43,000 cbm was renewed by a client for a three-year term consisting of six months plus six months, subject to mutual renewal for an additional two years.

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BROG Brooge Energy
$8.81 /

+ (+0.00%)

BROG Brooge Energy
$8.81 /

+ (+0.00%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Syndicate
Brooge Energy files to sell 6M ordinary shares for holders  17:06
04/19/21
04/19
17:06
04/19/21
17:06
BROG

Brooge Energy

$10.04 /

-0.11 (-1.08%)

 
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BROG Brooge Energy
$10.04 /

-0.11 (-1.08%)

BROG Brooge Energy
$10.04 /

-0.11 (-1.08%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Syndicate
Brooge Energy files $500M mixed securities shelf  17:05
04/19/21
04/19
17:05
04/19/21
17:05
BROG

Brooge Energy

$10.04 /

-0.11 (-1.08%)

 
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BROG Brooge Energy
$10.04 /

-0.11 (-1.08%)

BROG Brooge Energy
$10.04 /

-0.11 (-1.08%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital
Hot Stocks
Brooge Energy engages EY for feasibility study for Phase III facility » 09:44
02/16/21
02/16
09:44
02/16/21
09:44
BROG

Brooge Energy

$10.52 /

+ (+0.00%)

Brooge Energy announced…

Brooge Energy announced it has engaged Ernst & Young to perform a feasibility study for its Phase III oil storage facility. Brooge Energy's Phase III facility will be built to the same specifications that were used for its Phase I and II facilities, including advanced technology that utilizes automated processes. In 2020, Brooge Energy finalized the Front End Engineering Designs and commenced pre-construction work, including the Soil Investigation and Environmental Impact Assessment report. This feasibility study will progress the Company's plans as it prepares for the construction stage. The Phase III facility is expected to add up to 3,500,000 m3, or 22 million barrels of oil, of capacity and, when complete, would make Brooge Energy the largest oil storage provider in the Port of Fujairah, UAE.

ShowHide Related Items >><<
BROG Brooge Energy
$10.52 /

+ (+0.00%)

BROG Brooge Energy
$10.52 /

+ (+0.00%)

08/11/20
Fly Intel: Top five analyst initiations
08/11/20 RBC Capital
Brooge Energy initiated with an Outperform at RBC Capital

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