Middle East

United Arab Emirates

NEWS & Analysis

Corporate

Dana Gas: Profits Up, Litigation Up, Zora Write-Down Looms

UAE firm Dana Gas this week reported a rise in profits and revenue for the first half of 2017 based on sharply higher oil prices, and lower capex, compared to the same period last year. But litigation is beginning to rival gas and oil production as Dana’s main line of business, with holders of the firm’s $700mn Sukuk recently added to its list of legal adversaries. The firm’s finances won’t be helped by a likely major write-down to its $100mn Zora gas development.

ADCO HITS EXXON OUTPUT AS FIRM’S MIDEAST LIQUIDS FALL BEHIND US VOLUMES ('000 B/D)
ADMA CRUDE OIL PRODUCTION ('000 B/D)
UAE CRUDE OIL EXPORTS SINK AS REFINERY THROUGHPUTS RISE (MN B/D)

DATA WITHIN ARTICLES