Bpgic signs two new oil storage contracts for its phase i facility at 60% premium, driving further margin expansion

New york, dec. 16, 2020 (globe newswire) -- brooge energy ltd. (“brooge energy” or the “company”) (nasdaq: brog), a midstream oil storage and service provider strategically located outside the strait of hormuz, adjacent to the port of fujairah in the united arab emirates (“uae”) through its wholly-owned subsidiary brooge petroleum and gas investment company fze (“bpgic”) , announced today that bpgic has signed offtake contracts with two regional oil trading companies for total geometric storage capacity of 104,074 cbm at a 60% premium to previous contracts. this follows other recent contracts for 129,000 cbm, which were announced on december 7, 2020.
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