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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli

    Rocky
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    After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli Empty After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli

    Post by Rocky Wed 08 May 2024, 5:08 am

    After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 million in the first quarter

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    Economy News - follow up
    [rtl]The UAE company Dana Gas recorded net profits of 139 million dirhams ($38 million) in the first quarter, and revenues amounted to 356 million dirhams ($97 million), according to a statement from the company on Wednesday.[/rtl]
     
    [rtl]The company said that its profits in the first quarter were lower than the same period last year, when it recorded 183 million dirhams ($50 million), “as a result of the lower selling prices achieved for condensates during the first quarter of 2024 compared to their prices during the first quarter of 2023.”[/rtl]
     
    [rtl]The company explained that the group’s average production in the first quarter reached 56,750 barrels of oil equivalent per day, a decrease of 10 percent compared to 62,900 barrels of oil equivalent per day during the first quarter of 2023.[/rtl]
     
    [rtl]The statement stated that the Egyptian Council of Ministers approved at the beginning of last March a draft law authorizing the Minister of Petroleum and Mineral Resources and the Egyptian Natural Gas Holding Company (EGAS) to conclude a new agreement to merge Dana Gas’ concession areas. The company expects to obtain final approval from the Egyptian Parliament in the coming weeks.[/rtl]
     
    [rtl]On the other hand, Dana Gas said that the incident of the attack on the “Khor Mor” field in the Kurdistan region of Iraq, on April 26, is likely to affect the timetable for completing the “Khor Mor 250” project.[/rtl]
     
    [rtl]The statement stated that before this incident occurred, the company was able to achieve good profits during the first quarter of the year despite the decline in sales prices achieved for a barrel of condensate and the decline in production rates in Egypt.[/rtl]


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