Jul. 22 at 4:34 AM
$BROGF now we get to phase 3: see the link from my post two posts ago (2024 annual report sec filling) at page 46.
there are two options for phase 3:
1. adding up to 3,500,000 m3 (22 million barrels) of storage or
2. the preffered option that they will do:
adding up to 1,660,000 m3 (10.4 million barrels) of storage
plus an 180,000 bopd refinery.
$650M of cash from mcb offering for brooge shareholders will
give them ability to do the storage parts with no additional
debt (especially storage of option 2). page 47 estimate cost of
storage construction at close to phase 1 and 2 per barrel.
phase 1 & 2 average (including other infrastructure not
needed here) was
$355 per m3. for 1,660,000 m3 that would
be
$590M. pretty close to mcb offering. refiney cost for
conventional in the area is >
$20,000 per barrel. they are
talking about being a toll fee base. this is a desired area for
petrochemical refinery (low cost energy and low cost crude in
the area). financing would be external.
