Dubai, UAE — Gulf Navigation Holding PJSC, a prominent maritime and logistics company listed on the Dubai Financial Market, has completed the acquisition of all assets of Brooge Energy Limited and its subsidiaries, marking a pivotal moment in the company’s strategic expansion within the energy sector.
Strengthening Energy Logistics and Infrastructure Services
This acquisition significantly boosts Gulf Navigation’s standing as a fully integrated provider of maritime services and energy infrastructure solutions. The addition of Brooge Energy’s modern storage and blending facilities will allow Gulf Navigation to offer expanded, end-to-end logistics services tailored to the regional energy sector.
“The completion of this strategic acquisition marks a defining moment in Gulf Navigation’s transformation,” said Ahmed Al Kilani, CEO of Gulf Navigation Holding. “By integrating Brooge’s world-class storage and blending infrastructure, we are building a more advanced, diversified, and resilient energy logistics platform.”
Increased Capital and Future Expansion Plans
As part of the transaction, Gulf Navigation increased its share capital from AED 837 million to AED 1.65 billion. The company also issued mandatory convertible bonds to Brooge shareholders, with total share capital expected to reach AED 3.5 billion upon conversion. This expanded asset base and stronger financial position will help Gulf Navigation invest in next-generation energy infrastructure.
Entering the Refining and Renewable Energy Markets
Looking forward, Gulf Navigation is set to diversify further into refining, renewable energy, and clean fuel development. Additionally, the company plans to bolster its core shipping and logistics operations. Saif Al-Hazaymeh, CEO of Brooge Petroleum & Gas Investment Company (BPGIC), added that the company is already progressing on an ambitious project to build the first refinery dedicated to producing high-quality gasoline in Fujairah, with the first phase expected to have a refining capacity of 15,000 barrels per day.
Gulf Navigation’s strategic focus aligns with the UAE’s Net Zero 2050 strategy and the global shift toward sustainable energy systems.
