Oil & Gas Gulf Navigation buys Nasdaq-listed Brooge Energy By Pramod Kumar March 14, 2025, 10:07 AM Brooge Energy/X Brooge's flagship facilities are located in Fujairah, the world’s second-largest bunkering and emerging storage hub Dubai-listed Gulf Navigation Holding is building its presence in the midstream oil and gas and logistics sectors following the acquisition of a Nasdaq-listed oil refining and storage company. Shareholders on Thursday approved the buying of assets and companies owned by Brooge Energy Limited, the company said in a statement to the Dubai stock exchange. This acquisition includes Brooge assets, including its flagship facilities in Fujairah, for AED3.2 billion ($871 million) paid in cash, new shares and convertible bonds. The company’s share capital will increase by 320 percent after the issue of new shares and convertible bonds, said CEO Ahmad Kilani. UAE and Saudi Arabia cut prices of flagship crude Aramco focuses spending on gas and Jafurah fields Much-delayed Kirkuk refinery deal signed by Iraq He said the deal is projected to enhance Gulf Navigation’s revenue and improve earnings before interest tax and depreciation over the next few years. The transaction is expected to be completed within the second quarter of 2025, subject to regulatory approvals.
