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By 8%.. The UAE “Dana Gas” announces an increase in its oil production in the Kurdistan region
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Economy News - Baghdad
The head of investor relations at Dana Gas, Muhammad Al-Mubaideen, confirmed today, Thursday, that the company, as an oil producer, is affected by the decline and rise in oil prices, which fell in 2023 to $83 per barrel from $101 per barrel in 2022, which affected the profitability of the company, which prices its products in proportion to... Oil selling prices.
Al-Mubaidhan said that the company worked to reduce operational costs by 7% and administrative and general costs by 8%, and increased production in the Kurdistan region of Iraq by 8%. These factors had a positive impact in reducing the impact of the oil decline.
The company's profits fell by 12% to 586 million dirhams in 2023, and the company attributed the decline in its profits to the decline in the prices of hydrocarbon products.
The company recorded a decline in its annual revenues by 20% to 1.55 billion dirhams.
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Added 02/08/2024 - 11:55 AM
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Economy News - Baghdad
The head of investor relations at Dana Gas, Muhammad Al-Mubaideen, confirmed today, Thursday, that the company, as an oil producer, is affected by the decline and rise in oil prices, which fell in 2023 to $83 per barrel from $101 per barrel in 2022, which affected the profitability of the company, which prices its products in proportion to... Oil selling prices.
Al-Mubaidhan said that the company worked to reduce operational costs by 7% and administrative and general costs by 8%, and increased production in the Kurdistan region of Iraq by 8%. These factors had a positive impact in reducing the impact of the oil decline.
The company's profits fell by 12% to 586 million dirhams in 2023, and the company attributed the decline in its profits to the decline in the prices of hydrocarbon products.
The company recorded a decline in its annual revenues by 20% to 1.55 billion dirhams.
Views 48
Added 02/08/2024 - 11:55 AM
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