dana gas profit rises 276
Last Updated : GMT 16:23:05
Arab Today, arab today
Arab Today, arab today

Dana Gas profit rises 276%

Arab Today, arab today

Arab Today, arab today Dana Gas profit rises 276%

Dubai - Arabstoday

Dana Gas PJSC, the Middle East\'s private sector natural gas company, has announced its financial results for the quarter ending in June, with a net profit after tax of Dh124 million, a 276 per cent increase compared to the second quarter of 2010. Revenue from the sale of hydrocarbons increased to Dh627 million during the second quarter, with gross profit reaching Dh341 million. These figures represent increases of 46 per cent and 90 per cent respectively, compared to the same period last year. This is due to strong production growth coupled with higher market prices for oil, condensate and LPG during 2011. Production increased in aggregate by 20 per cent, from the company\'s operations in Egypt and in the Kurdistan region of Iraq, where production from the Khor Mor field continues to increase. Earnings before interest, tax, depreciation, amortisation and exploration (EBITDAX) increased by 63 per cent to Dh411 million as compared to the second quarter of last year. Article continues below Net profit for the six months ending in June was Dh216 million compared to Dh66 million in the same period last year. The above net profit for the six months excludes an unrealised gain of Dh172 million on the company\'s investment in MOL (the Hungarian oil and gas company, a partner in the Kurdistan region of Iraq), booked directly to equity in line with the company\'s published accounting policy. EBITDAX for the six month period increased to Dh814 million compared to Dh480 million in the same period last year. Dana Gas chief executive officer Ahmad Al Arbeed said: \"This excellent outcome is driven by the 20 per cent increase in production from Egypt and the Kurdistan region of Iraq and consequent increase in revenues accompanied by our tight control of costs throughout the organisation. While Dana Gas continues to deliver consistent strong operational and financial results, we are working diligently to meet the challenges that we face during the political changes in our region and at the same time we seek to take advantage of opportunities as they arise.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dana gas profit rises 276 dana gas profit rises 276

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dana gas profit rises 276 dana gas profit rises 276

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday