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 Limited reports developments tied to its Cayman Islands-based infrastructure business and its clean petroleum and energy products, biofuels and crude oil storage and related services. Company news has centered on the completed sale of interests in BPGIC FZE and BPGIC Phase III FZE, shareholder approvals, distribution mechanics and the declaration of a dividend related to transaction proceeds.
Recurring updates also cover governance matters, capital-structure disclosures, operating and financial results, and corporate-status actions, including the company’s voluntary delisting and SEC deregistration process.
Brooge Energy, located near the Strait of Hormuz, reported a record revenue of $44 million for 2019, a 23% increase year-over-year, alongside a gross profit of $34 million, marking a 29% growth. Phase I operations, fully contracted, continued to drive revenue. Phase II, expected operational by Q4 2020, is projected to increase capacity to 6.3 million barrels. Despite a $76 million loss attributed to one-off listing expenses, cash reserves stood at $20 million as of December 31, 2019. Management remains cautious about COVID-19 impacts but noted limited operational disruptions.
Brooge Energy Limited (NASDAQ: BROG) has announced a filing of Form 12b-25 with the SEC to extend the due date for its Annual Report on Form 20-F for the year ending December 31, 2019, by 15 days due to difficulties caused by the COVID-19 pandemic. The company expects to file the report by June 30, 2020. A conference call is scheduled for July 7, 2020, to address investor queries regarding the reported results.
Summary not available.
Summary not available.