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BPGIC And Sahara Energy Announce Their Mutual Agreement To Discontinue Their Joint Development Project to Install a Modular Refinery at BPGICa??s Terminal

NEW YORK, Feb. 21, 2020 (GLOBE NEWSWIRE) -- Brooge Holdings Limited (a??Brooge Holdingsa??) (NASDAQ: BROG) and its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (a??BPGICa??), a Fujairah Free Zone Entity in the oil storage and services business announced today that BPGIC and Sahara Energy Resources DMCC (a??Saharaa??) have mutually agreed to discontinue their joint development project that would have resulted in Saharaa??s installation of a modular refinery at BPGICa??s terminal. After conducting several technical studies over the past few months, BPGIC and Sahara decided to discontinue their joint development project due to their differing perspectives and visions for the refinery.About Brooge Holdings LimitedBrooge Holdings Limited is an exempted company incorporated under the laws of the Cayman Islands. Brooge Holdings conducts all of its business and operations through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE, a Fujairah Free Zone Entity.
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