Dubai-listed firm GulfNav announced the completion of its purchase of Brooge Energy’s assets and subsidiaries on 27 November. Acquisition talks had begun in 2023, and the deal covers the 1mn m³ BGPIC oil storage terminal at Fujairah (MEES, 6 October 2023). Work is also underway on a 2.5mn m³ Phase 3 expansion, while an agreement was signed with Honeywell in November to obtain the license to construct a gasoline-focused refinery at Fujairah. The modular refinery would have first phase capacity of 15,000 b/d.