Brooge Energy Ltd Announces Unaudited Financial Results for the Nine Months Ended September 30, 2022
25 Outubro 2022 - 10:23AM
Brooge Energy Ltd, (“Brooge Energy” or the “Company”), a Cayman
Islands-based infrastructure provider, which is currently engaged
in clean petroleum products and biofuels and crude oil storage and
related services, today announced its unaudited financial results
for the nine months ended September 30, 2022.
Unaudited Financial Results for the Nine
Months Ended September 30, 2022:
- Total Revenue: $51.8 million
- Operating Profit: $23.1 million
(does not include fair value of derivative financial
instruments)
- Net Income: $11.1 million
Mr. Nicolaas Paardenkooper, Chief Executive
Officer of Brooge Energy, stated, “Unaudited total revenue for the
first nine months of 2022 is extremely healthy due to our ability
to maintain 100% contracted capacity at attractive terms. As of
September 30, 2022, we had a total of eight customers with an
average tenure of two years with option for an additional two
years. Demand for oil storage remains very strong given the current
global economic environment and we are benefiting not only from our
strategic location, but also from our high quality infrastructure
and automated technology.”
About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure
provider now intending to focus on renewable energy infrastructures
and biofuels, next to clean petroleum products, crude oil storage
and related services. The company conducts its business and
operations through its subsidiaries Brooge Renewable Energy, Brooge
Petroleum and Gas Investment Company FZE (BPGIC), and Brooge
Petroleum and Gas Investment Company Phase 3 FZE. BPGIC, the
Company’s primary operating subsidiary that focuses on midstream
oil storage and other services, is strategically located outside
the Strait of Hormuz at the Port of Fujairah in the Emirate of
Fujairah in the UAE. The Company differentiates itself from
competitors by providing customers with fast order processing
times, excellent customer service and high accuracy blending
services with low product losses. For more information, please
visit at www.broogeenergy.com.
Forward-Looking StatementsThis
report contains “forward-looking statements” for purposes of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995 that represent our beliefs, projections and
predictions about future events. All statements other than
statements of historical fact are “forward-looking statements,”
including any projections of earnings, revenue or other financial
items, any statements of the plans, strategies and objectives of
management for future operations, any statements concerning
proposed new projects or other developments, any statements
regarding future economic conditions or performance, any statements
of management’s beliefs, goals, strategies, intentions and
objectives, and any statements of assumptions underlying any of the
foregoing. Such statements reflect management’s current views based
on certain assumptions, and they involve risks and uncertainties.
Actual results, events or performance may differ materially from
the forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors, including
availability of labor and other resources needed to for completion
of the new plant, timing of obtaining regulatory approvals needed
with respect to the new facility, the Company’s ability to complete
construction and initiate operations of the new facility on the
anticipated timeline or at all, the Company’s ability to maintain
the lease for the new facility, and other risks described in public
reports filed by Brooge Energy with the U.S. Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Brooge Energy does not undertake any obligation
to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Investor ContactKCSA Strategic
CommunicationsValter Pinto, Managing Director+1 212-896-1254
BROG@kcsa.com
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