Brooge Energy Limited, a midstream oil storage and service provider in the UAE, has announced a delay in the issuance of dividends due to market uncertainty, according to a press release.

Brooge has many of projects in its pipeline for 2020 such as doubling storage capacity, however, the company views it as unwise to pay out their first batch of dividends in these uncertain times.

CEO Nico Paardenkooper says “we recognize that we are living through historic and extremely volatile times, with the effects being felt across international trade, the oil sector and capital markets, requiring companies across the world to embrace more prudent and conservative approaches to near-term business planning.”