Etihad Energy Holding PJSC (formerly Gulf Navigation Holding) provided an update on its planned refinery development project in Fujairah, which will be developed through its wholly owned subsidiary, Brooge Petroleum and Gas Investment Company (BPGIC).
The project is designed to produce Euro 5-compliant gasoline and forms part of the company’s broader strategy to expand its integrated energy infrastructure platform.
Key highlights:
• Front-End Engineering Design (FEED) process has commenced
• FEED being conducted in collaboration with PEG (Italy) and Honeywell UOP (USA)
• Estimated capital expenditure of USD 300 million to USD 350 million
• Planned processing capacity of approximately 15,000 barrels per day
• Project focused on converting naphtha into Euro 5-compliant gasoline
• Development being undertaken through Brooge Petroleum and Gas Investment Company (BPGIC)
According to the company, the current capital expenditure estimate remains preliminary and final project costs will be disclosed once engineering studies and project evaluations are completed.
The refinery is expected to process naphtha and convert it into higher-value refined products, primarily Euro 5 gasoline that meets regional and international fuel quality standards.
Etihad Energy Holding stated that the project is intended to complement its existing storage and logistics operations while enhancing value across its integrated energy infrastructure platform. The development is also expected to strengthen the company’s position across the downstream energy value chain.
The clarification was issued in response to market inquiries regarding the status, scale and expected economics of the Fujairah refinery project.
Source: Dubai Financial Market (DFM) Disclosure / Etihad Energy Holding PJSC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.