Brooge Petroleum and Gas Investment Company (BPGIC) is pressing ahead with its strategy to “become the largest oil storage and service provider” in the strategically located port of Fujairah. BPGIC, owned by Nasdaq-listed Brooge Holdings, this week signed a land lease deal with the Fujairah Oil Industrial Zone for a 450,000 m2 plot on which to develop its Phase III facility.

The firm doesn’t detail the plot’s precise location, but states that it could “house up to approximately 3.5mn m3 of storage tanks and, potentially, a refinery with a capacity of up to 180,000 b/d.” (CONTINUED - 221 WORDS)