Latest news with #BroogeEnergyLimited
Yahoo
5 days ago
- Business
- Yahoo
Brooge Energy Limited (BROG) to Divest Two Storage Units in $884M Gulf Navigation Deal
Brooge Energy Limited (NASDAQ:BROG) announced a definitive agreement to sell its core subsidiaries, BPGIC FZE and BPGIC Phase III FZE, to Gulf Navigation Holding PJSC. Valued at approximately $884 million, the deal indicates a significant change in the company's operational focus in a highly evolving energy logistics environment. A huge refinery and oil storage facility with high automated machinery for blending and circulation. As per the terms of the agreement, the transaction includes a mix of cash, newly issued Gulf Navigation shares, and mandatory convertible bonds. The latter accounts for close to 72% of the total consideration and signals Gulf Navigation's intent to expand its storage alongside its transport ecosystem. In addition to amendments to Gulf Navigation's foreign ownership restrictions, the deal's completion is also affected by the regulatory approvals and bondholder consents. Both parties anticipate closure within three months. As the deal progresses, further updates on shareholder distributions and regulatory filings are expected. The facilities being sold by the company are located at the Port of Fujairah. As such, they offer significant access to key maritime routes, thus potentially providing an uplift to Gulf Navigation's existing fleet operations. Gulf Navigation expects the new purchase to expand its service offerings. For Brooge Energy Limited (NASDAQ:BROG), the aim is to streamline its capital structure as well as resolve legacy liabilities tied to BPGIC Holdings Limited. Brooge Energy Limited (NASDAQ:BROG)'s divestiture comes after a week of extraordinary market performance, where the company's stock price went up by nearly 140%. Supported by strong insider ownership of close to 84% and notable institutional transactions amounting to 11%, the stock has surged by approximately 275% over the past year. While we acknowledge the potential of BROG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BROG and that has 100x upside potential, check out our report about the READ NEXT: 10 Unstoppable Dividend Stocks to Buy Now and 11 Oversold Global Stocks to Buy According to Hedge Funds Disclosure: None.
Yahoo
6 days ago
- Business
- Yahoo
Brooge Energy Limited (BROG) to Divest Two Storage Units in $884M Gulf Navigation Deal
Brooge Energy Limited (NASDAQ:BROG) announced a definitive agreement to sell its core subsidiaries, BPGIC FZE and BPGIC Phase III FZE, to Gulf Navigation Holding PJSC. Valued at approximately $884 million, the deal indicates a significant change in the company's operational focus in a highly evolving energy logistics environment. A huge refinery and oil storage facility with high automated machinery for blending and circulation. As per the terms of the agreement, the transaction includes a mix of cash, newly issued Gulf Navigation shares, and mandatory convertible bonds. The latter accounts for close to 72% of the total consideration and signals Gulf Navigation's intent to expand its storage alongside its transport ecosystem. In addition to amendments to Gulf Navigation's foreign ownership restrictions, the deal's completion is also affected by the regulatory approvals and bondholder consents. Both parties anticipate closure within three months. As the deal progresses, further updates on shareholder distributions and regulatory filings are expected. The facilities being sold by the company are located at the Port of Fujairah. As such, they offer significant access to key maritime routes, thus potentially providing an uplift to Gulf Navigation's existing fleet operations. Gulf Navigation expects the new purchase to expand its service offerings. For Brooge Energy Limited (NASDAQ:BROG), the aim is to streamline its capital structure as well as resolve legacy liabilities tied to BPGIC Holdings Limited. Brooge Energy Limited (NASDAQ:BROG)'s divestiture comes after a week of extraordinary market performance, where the company's stock price went up by nearly 140%. Supported by strong insider ownership of close to 84% and notable institutional transactions amounting to 11%, the stock has surged by approximately 275% over the past year. While we acknowledge the potential of BROG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BROG and that has 100x upside potential, check out our report about the READ NEXT: 10 Unstoppable Dividend Stocks to Buy Now and 11 Oversold Global Stocks to Buy According to Hedge Funds Disclosure: None.
Yahoo
23-05-2025
- Business
- Yahoo
Here is Why Brooge Energy (BROG) Skyrocketed This Week
The share price of Brooge Energy Limited (NASDAQ:BROG) surged by 32.33% between May 14 and May 21, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A huge refinery and oil storage facility with high automated machinery for blending and circulation. Brooge Energy Limited (NASDAQ:BROG) is the parent company of Brooge Petroleum and Gas Investment Company FZE, which operates as a midstream oil storage and service provider out of the Emirate of Fujairah in the United Arab Emirates. Brooge Energy Limited (NASDAQ:BROG) received a massive boost, most likely due to investors reacting positively to President Trump's visit to the U.A.E. last week. The highly successful event marked the beginning of a new chapter of energy ties between the United States and its Middle Eastern ally, with the two countries pledging to invest billions of dollars into each other's energy sectors. American energy giants. The U.A.E. announced plans to raise its energy investments in the United States to $440 billion by 2035, while the American energy giants made commitments of new investments worth $60 billion in the upstream oil and gas sector, as well as new and unconventional opportunities, in the Middle Eastern country. While we acknowledge the potential of BROG to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BROG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None.
Yahoo
22-05-2025
- Business
- Yahoo
Here is Why Brooge Energy (BROG) Skyrocketed This Week
The share price of Brooge Energy Limited (NASDAQ:BROG) surged by 32.33% between May 14 and May 21, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A huge refinery and oil storage facility with high automated machinery for blending and circulation. Brooge Energy Limited (NASDAQ:BROG) is the parent company of Brooge Petroleum and Gas Investment Company FZE, which operates as a midstream oil storage and service provider out of the Emirate of Fujairah in the United Arab Emirates. Brooge Energy Limited (NASDAQ:BROG) received a massive boost, most likely due to investors reacting positively to President Trump's visit to the U.A.E. last week. The highly successful event marked the beginning of a new chapter of energy ties between the United States and its Middle Eastern ally, with the two countries pledging to invest billions of dollars into each other's energy sectors. American energy giants. The U.A.E. announced plans to raise its energy investments in the United States to $440 billion by 2035, while the American energy giants made commitments of new investments worth $60 billion in the upstream oil and gas sector, as well as new and unconventional opportunities, in the Middle Eastern country. While we acknowledge the potential of BROG to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BROG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
