Arab Today, arab today dana gas net profit climbs 20
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

Dana Gas net profit climbs 20%

Arab Today, arab today

Arab Today, arab today Dana Gas net profit climbs 20%

Abu Dhabi - Arabstoday

Abu Dhabi-listed energy firm Dana Gas said on Sunday its full-year net profit for 2012 rose 20 per cent on the back of higher oil prices and lower costs. Dana’s 2012 net profit rose to US$165 million (Dh605.5 million) from the US$138 million it posted in 2011, the company said in a statement. The company, hit by delays on payments for its supplies of natural gas to Egypt and Iraq’s Kurdistan region, reached an agreement with creditors in December to amend terms of a US$920 million Islamic bond, which had its maturity in October. “With the agreement with the sukuk-holders announced, the focus now is on receivables collection, boosting the management team, and realising the value of the assets through an international listing,” Crescent Chief Executive Majid Jafar, who is also a board member of Dana, told Reuters by phone. Dana, in which Crescent Petroleum has a 20 per cent stake, said it collected US$301 million from its share of receivables in Egypt and Kurdistan region of Iraq in 2012. The company’s cash balance rose by 47 per cent to US$165 million by the end of last year, while total assets reached US$3.5 billion at the end of December. Dana Gas, which has operations in the UAE, Egypt and Kurdistan, made quarterly profit of Dh114 million, according to Reuters calculations. It had profit of Dh147 million in the year-ago period. “We are now preparing to develop our three recent discoveries in Egypt and the Zora offshore gas field in the UAE. These projects will enable us to boost the growth that our operations have achieved consistently over the past seven years,” said Rashid Al Jarwan, executive director and acting chief executive officer of Dana Gas. From Gulf News  

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*

Arab Today, arab today dana gas net profit climbs 20 Arab Today, arab today dana gas net profit climbs 20

 



Arab Today, arab today

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*

Arab Today, arab today dana gas net profit climbs 20 Arab Today, arab today dana gas net profit climbs 20

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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