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Dana Gas, the Middle East’s largest regional private sector natural gas company, has seen its first-half (H1) net profit drop 25% to AED304 million ($83 million) as compared to AED407 million in H1 2022 on falling oil prices.
Dana Gas has announced a drop in the net profits in the first half of 2023 due to discounted and disrupted sales in Iraq’s Kurdistan region.
By John Lee. UAE-based Dana Gas said on Wednesday that its Pearl Petroleum subsidiary recently received $101 million payments from the Kurdistan Regional Government (KRG). However, the shares were trading down approximately 1 percent, as overall revenues and profits saw a decline. Full statement from Dana Gas: Highlights - H1 2023 KRI production increased by
Dana Gas, the Middle East’s largest regional private sector
Dana Gas has announced its financial results for the first quarter ended 31 March 2023. For the first quarter of 2023, the Company generated a net profit of AED 183 million ($50 million) as compared to AED 198 million ($54 million) in Q1 2022. Profitability for the quarter dropped just 7% compared to a 22%