Dubai [UAE], December 4: Gulf Navigation, listed on the Dubai Financial Market (DFM), announced that its subsidiary, Brooge Petroleum and Gas Investment Company (BPGIC), has signed an agreement with PEG to prepare the Front-End Engineering Design (FEED) for a naphtha upgrading project aimed at producing Euro 5-grade gasoline in the Emirate of Fujairah.
This project marks a strategic milestone that further strengthens the UAE's position as a leading global hub for refining and petroleum product trading. The first phase, with an estimated capacity of 15,000 barrels per day, represents the launch of a specialised refining facility that leverages advanced technologies to enhance naphtha processing efficiency and produce high-quality Euro 5 gasoline aligned with growing regional and international demand.
In this context, Engineer Saif Al-Hazaymeh, CEO of Borouge Petroleum and Gas Investments Company (BPGIC), said, "This agreement represents a pivotal step in supporting BPGIC's transition into a new phase of growth through entering specialised refining. It strengthens our business model and expands our presence across the hydrocarbon value chain.
"The project also reinforces the UAE's rising role as a regional leader in the energy sector and reflects our commitment to developing high-efficiency, high-quality refining assets. The new gasoline refinery in Fujairah will be a significant addition to the national energy landscape."
BPGIC, a subsidiary of Gulf Navigation listed on the Dubai Financial Market, confirmed that the refinery in Fujairah will support the UAE's strategy to expand its petroleum industries and enhance in-country value, while also creating development opportunities for national talent in refining, operations, and maintenance.
The company emphasised that one of its core objectives is to deliver long-term value to shareholders while providing clients with the best energy-infrastructure solutions through practical projects designed to meet rising market demand and ensure operational reliability and efficiency.
Source: Emirates News Agency
