Etihad Energy Holding Launches After GULFNAVs $3.2 bn Acquisition of Brooge Petroleum

On 18 June 2026, the Dubai‑based company formerly known as Gulf Navigation Holding (GULFNAV) announced the completion of its acquisition of Brooge Petroleum and Gas Investment Company (BPGIC) and the launch of a new corporate identity, Etihad Energy Holding PJSC. The transaction, valued at AED 3.2 billion, combined GULFNAV’s maritime operations with BPGIC’s energy infrastructure assets, including storage facilities in Fujairah. The rebranding was unveiled at a launch event in Dubai attended by company executives, media representatives and investor‑relations advisers.

The company’s shares began trading on the Dubai Financial Market (DFM) under the new ticker ETIHADENERGY on the first session after the market closed on 19 June. The name and ticker change does not alter the company’s legal structure, shareholder rights or ongoing operations, the company said. It is intended to signal a broader strategic direction that will enhance competitiveness and support future growth.

Acting CEO Eng. Saif Al Hazaimeh explained the rationale behind the acquisition and rebranding. “The launch of Etihad Energy Holding PJSC represents a pivotal milestone in our corporate transformation, following the successful completion of the acquisition,” he said. “This new identity reflects the evolution of GULFNAV into a broader and more diversified energy infrastructure platform with enhanced capabilities and a stronger foundation for future growth.”

Al Hazaimeh added that the company will focus on sustainable expansion, operational excellence and long‑term shareholder value creation. “We are entering a new phase focused on sustainable expansion, operational excellence and long‑term value creation for our shareholders,” he said. “The combined strengths of GULFNAV and BPGIC enable us to pursue a wider set of opportunities across energy, logistics and maritime sectors, supported by a more resilient and scalable platform.”

The rebranding follows approval from the UAE Capital Market Authority (CMA) on 4 June 2026 to amend the company’s Articles of Association and complete the regulatory requirements associated with the acquisition and corporate restructuring. The CMA, which replaced the former Securities and Commodities Authority on 1 January 2026, oversees the DFM and other UAE‑listed companies.

Etihad Energy Holding will build on its maritime heritage while expanding its footprint across the wider energy and logistics value chain. The company’s strategic presence in Fujairah, one of the world’s key energy and bunkering hubs, will be a core asset. Fujairah Port is the largest port on the UAE’s eastern seaboard and the world’s second‑largest bunkering hub, making it an attractive location for integrated energy infrastructure.

The acquisition of Brooge’s assets is expected to double GULFNAV’s storage infrastructure in Fujairah. Brooge Petroleum and Gas Investment Company had previously operated storage facilities for fuel oil, crude oil and petroleum products. The combined entity will therefore have a more extensive network of storage and logistics facilities, positioning it to serve regional and international customers.

According to the company’s first‑quarter 2026 financial results, revenue reached AED 109.7 million, a 64 percent increase year‑on‑year. The company said that the growth reflected the impact of the Brooge acquisition and the expansion plans announced at the launch event.

The launch of Etihad Energy Holding is part of a broader trend of consolidation in the UAE’s energy and maritime sectors. By integrating maritime logistics with energy infrastructure, the company aims to create synergies that can improve efficiency and reduce costs across its operations.

The company’s new identity and strategic focus are expected to attract investors interested in the UAE’s growing energy and logistics market. The company’s shares are now listed under the ticker ETIHADENERGY on the DFM, and investors can trade the shares under the new name.

In summary, Etihad Energy Holding PJSC has been launched following the successful acquisition of Brooge Petroleum and Gas Investment Company. The company will operate under a new name and ticker, with a focus on sustainable expansion, operational excellence and long‑term shareholder value. The rebranding reflects a broader strategy to leverage its maritime heritage and expand across the energy and logistics value chain, particularly in Fujairah, a key hub for bunkering and energy infrastructure.