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Thursday, 11 May 2017

Dana Gas profit rises but uncertainties remain | The National

Dana Gas profit rises but uncertainties remain | The National:

"Dana Gas’s first-quarter profit jumped 83 per cent from a year earlier but spending is on hold amid uncertainty over back payments and refinancing. The Sharjah company said its net profit after tax was US$11 million in the first three months of the year, up from $6m, resulting from higher production and market prices. Output climbed 16 per cent with realised prices up more than 40 per cent, boosting revenue by 44 per cent to $118m. Yet outstanding arrears amounting to $1 billion from Egypt and the Kurdistan Regional Government, in addition to arbitration with Iran, have placed more pressure on the producer."



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