Welcome to our dedicated page for Brooge Energy news (Ticker: BROG), a resource for investors and traders seeking the latest updates and insights on Brooge Energy stock.
Brooge Energy Ltd (BROG) provides essential oil storage and midstream services through its strategic operations near the Port of Fujairah. This news hub offers investors and industry professionals verified updates about the company’s activities in the UAE energy sector.
Access official press releases covering operational milestones, storage capacity expansions, and strategic partnerships. Our curated collection includes earnings reports, regulatory filings, and announcements about clean petroleum product initiatives – all critical for understanding the company’s market position.
Key updates feature developments from subsidiary BPGIC, operational efficiency metrics, and industry-specific advancements in oil blending accuracy. The resource serves as a reliable reference for tracking the company’s role in global energy logistics without speculative commentary.
Bookmark this page for streamlined access to Brooge Energy’s latest announcements. Check regularly for updates on storage infrastructure developments, biofuel integration progress, and other material events shaping the company’s trajectory in petroleum services.
Brooge Energy, a Cayman Islands-based infrastructure provider for Clean Petroleum Products and Biofuels, announced it received a notice from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to failure to file its 2021 Form 20-F. The delay is linked to an ongoing SEC examination of its financial statements. The company has 60 days to submit a plan for regaining compliance, potentially extending until October 28, 2022. Despite this notice, Brooge's listing on the Nasdaq remains intact at this time.
Brooge Energy Ltd. (Nasdaq: BROG) announced a strategic initiative to upgrade its Phase I storage facility to enhance revenue. This involves retrofitting four storage tanks for gasoline and clean products, capitalizing on rising oil prices and strong market demand for storage. The upgrades will increase margins due to higher priced product offerings. The company has letters of intent in place, indicating robust demand post-upgrade. CEO Paardenkooper noted that this initiative positions Brooge Energy to capture market opportunities and build shareholder value amid favorable conditions.
Brooge Energy (NASDAQ: BROG), a midstream oil storage provider, has won the Best Enterprise award in the oil and gas sector in the UAE, conferred by the Europe Business Assembly. This recognition underscores the company’s commitment to excellence in service and operations.
CEO Nicolaas Paardenkooper highlighted that this award reflects the hard work of all employees. Brooge Energy operates through its subsidiaries in the Fujairah Free Zone, offering fast processing times and accurate blending services.
Brooge Energy Ltd. (NASDAQ: BROG) announced non-compliance with Nasdaq Listing Rule 5605 due to the failure to elect two nominated directors at its December 16, 2021 shareholder meeting. Currently, the board consists of six members, including three independent directors. The Nasdaq notice does not affect its listing, provided compliance is regained by the next annual meeting or June 14, 2022. The company plans to appoint an additional independent director with expertise in oil, gas, and renewable energy to meet the requirements and position itself for future growth.
Brooge Energy Ltd. has appointed Lina Saheb as Deputy Chief Executive Officer effective October 28, 2021. Previously the Chief Strategy Officer, Saheb has played a crucial role in the company’s growth and ESG initiatives since its inception in 2010. Her new position is anticipated to bolster the company’s strategic growth and move towards renewable energy services. CEO Nicolaas L. Paardenkooper highlighted her contributions and expressed optimism for future developments under her leadership, particularly in reinforcing the company’s market position.
Brooge Energy Ltd. (NASDAQ: BROG) has opened its Phase II storage facility in Fujairah, UAE, which is fully contracted out and currently generating revenue. With this facility, Brooge is now the second largest independent storage operator in the region, boasting a capacity of approximately one million cubic meters (6.3 million barrels). The facility provides competitive advantages by storing various oil types and offering ancillary services. CEO Nicolaas L. Paardenkooper emphasized the project's significance and the company's commitment to the UAE's oil industry during the pandemic.
Brooge Energy (NASDAQ: BROG) reported a revenue increase to $23.3 million for the six months ending June 30, 2021, up from $22.9 million in 2020, primarily due to higher storage rates. The company announced the completion of its Phase II facility, which is expected to boost revenues in the latter half of 2021. Gross profit decreased by 4.0% to $16.1 million, while net profit fell to $11.1 million from $16.2 million in 2020 due to rising finance costs. Brooge also signed five new contracts with higher premiums, and its cash and bank balances stood at $37.2 million.
Brooge Energy Ltd. (NASDAQ: BROG) announced it will release its financial results for the six months ended June 30, 2021, on September 13, 2021. The company will discuss these results in a conference call on September 15, 2021, at 8:00 a.m. ET. Investors can participate in a question-and-answer session following management's remarks. Brooge Energy operates midstream oil storage in the UAE and aims to differentiate itself through rapid order processing and high-quality customer service. For further details, visit broogeenergy.com.
Brooge Energy Ltd. (NASDAQ: BROG) has officially begun operations at its new Phase II storage facility in Fujairah, UAE, significantly enhancing its capacity to store crude oil and clean petroleum products. This facility, built to high standards, has a total capacity of approximately 1 million cubic meters (6.3 million barrels) and is fully contracted with multi-year agreements. The Phase II facility is expected to generate revenues in the latter half of 2021, affirming Brooge's position as the second largest independent storage operator in the region.
Brooge Energy Ltd. (NASDAQ: BROG) announced positive results from a feasibility study for its Phase III oil storage and refinery expansion in Fujairah. The study confirms the project's financial viability, targeting a 2.5 million cbm oil storage facility and a 25,000 bpd modular refinery, with operations expected by 2023. The expansion will cement Brooge Energy as the largest independent oil storage provider in the region. Key advantages include strategic location and technology compliance with IMO 2020 standards, driving sustainable storage and refinery demand.
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