MIDGARD Holdings Ltd. (MHL), a company incorporated under the laws of Mauritius (Reg.No.: 115750, FSC License No.: C213020001) has passed compliance with a reputable funder who will be financing our projects in UAE. MHL took over all business activities of Phoenix Oel AG in 2016.
As of 2019, MHL decided to expand its activities as not only a trading petroleum platform but also engaging in Tank Farm Operations as well as waste Oil Refining in Fujairah – UAE.
In order to be in accordance to the laws of Fujairah, we have incorporated a company in the Freeport of Fujairah, namely MIDGARD Oil Hub LLC FZC (MOH) (Reg. No. 19-FZC-1912 – License No. 4133) – Petroleum Trading Company – and are in the process to incorporate MIDGARD Oil & Gas LLC FZC (MOG) – Tank Farm and Refinery operator – with the Freeport of Fujairah. We intend to bank with Abu Dhabi Islamic Bank, branch of Fujairah (UAE) as per the request of our funder.
MHL, MOH and MOG are free of any loans and up to now have been fully funded by its shareholders.