Company Insights Dana Gas Oil & Gas Dana Gas Overview Dana Gas is a publicly traded natural gas company based in Sharjah. It is claimed to be the largest non-government owned natural gas company in the Middle East, and has operations in Egypt, Iraq and the UAE. Dana Gas was incorporated and listed on the Abu Dhabi Securities Exchange (ADX) in 2005. Its founder shareholders included Crescent Petroleum and the Sharjah government. Its original goal was to supply gas from Iran to the Northern Emirates. Since 2007, Dana Gas has operated both in Egypt, where it is one of the largest gas producers, and the Kurdistan region of Iraq. Its operations in Kurdistan are run via Pearl Petroleum, Dana’s joint operation with Sharjah’s Crescent Petroleum and European companies OMV, MOL and RWE. In the UAE, Dana Gas operates onshore and offshore in the Zora gas field near Sharjah. Dana Gas says it believes that gas is a central part of energy transition and will be important in moving away from oil and gas, particularly in developing countries. It says it has reduced its carbon dioxide by 32 percent emissions in five years, and halved flaring at its El Wastani plant. Dana Gas News Energy TotalEnergies targets 2025 for first phase of Iraq projects France’s TotalEnergies aims to complete the first phase of a solar power project and the initial phase of the associated gas project in Iraq in 2025, its chief executive Patrick Pouyanné has said. Pouyanné met with the Iraqi prime minister, Mohammed Shia Al-Sudani, on the sidelines of the World Economic Forum in Riyadh, the Iraqi […] April 29, 2024 Energy Dana Gas profit falls 12% on lower hydrocarbon prices Profits at Abu Dhabi-listed Dana Gas fell 12.1 percent year on year to AED586 million ($160 million) in 2023 as a result of lower hydrocarbon prices. However, the company reported a production increase in the Kurdistan Region of Iraq and reduced operating costs. Revenue decreased 20 percent year on year to AED1.55 billion. Operational costs fell […] February 8, 2024 Oil & Gas Dana Gas to invest $43m to expand gas wells in Egypt Abu Dhabi-listed Dana Gas plans to invest $43 million to begin a significant drilling programme in Egypt to expand gas wells next year. The programme will boost the UAE energy company’s daily gas production by 30 million cubic feet by drilling 11 development wells and three exploratory wells, Egypt Today newspaper reported. During a meeting […] November 30, 2023 Energy Falling oil prices reduce Dana Gas profit by 25% UAE energy company Dana Gas said net profit fell 25 percent to AED304 million ($83 million) in the first half of 2023, compared with AED407 million in the first half of 2022. The average price of Brent fell 25 percent to $80 per barrel in the first six months, down from $107 per barrel in […] August 10, 2023 Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023 Analysis Energy Egypt aims to overcome obstacles to supplying more gas to the EU Depleting gas fields and soaring domestic consumption will stymie Egypt’s immediate efforts to boost Europe-bound energy exports – however, new exploration and additional pipelines could help it become a sizeable supplier to the EU later this decade. The EU has vowed to slash its imports of Russian gas by two thirds this year following Vladimir Putin’s […] November 17, 2022 Analysis Energy Ukraine war brings oil and gas underinvestment into sharp focus Oil and gas companies have slashed capital expenditure since a 2014 price crash and underinvestment will likely persist, despite the sector’s record profits this year, industry experts have warned. Saudi Aramco’s second-quarter net income of $48.4 billion was its largest since going public in 2019. ExxonMobil and Chevron and many other international oil companies also […] October 28, 2022 Posts navigation
Energy TotalEnergies targets 2025 for first phase of Iraq projects France’s TotalEnergies aims to complete the first phase of a solar power project and the initial phase of the associated gas project in Iraq in 2025, its chief executive Patrick Pouyanné has said. Pouyanné met with the Iraqi prime minister, Mohammed Shia Al-Sudani, on the sidelines of the World Economic Forum in Riyadh, the Iraqi […] April 29, 2024
Energy Dana Gas profit falls 12% on lower hydrocarbon prices Profits at Abu Dhabi-listed Dana Gas fell 12.1 percent year on year to AED586 million ($160 million) in 2023 as a result of lower hydrocarbon prices. However, the company reported a production increase in the Kurdistan Region of Iraq and reduced operating costs. Revenue decreased 20 percent year on year to AED1.55 billion. Operational costs fell […] February 8, 2024
Oil & Gas Dana Gas to invest $43m to expand gas wells in Egypt Abu Dhabi-listed Dana Gas plans to invest $43 million to begin a significant drilling programme in Egypt to expand gas wells next year. The programme will boost the UAE energy company’s daily gas production by 30 million cubic feet by drilling 11 development wells and three exploratory wells, Egypt Today newspaper reported. During a meeting […] November 30, 2023
Energy Falling oil prices reduce Dana Gas profit by 25% UAE energy company Dana Gas said net profit fell 25 percent to AED304 million ($83 million) in the first half of 2023, compared with AED407 million in the first half of 2022. The average price of Brent fell 25 percent to $80 per barrel in the first six months, down from $107 per barrel in […] August 10, 2023
Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023
Analysis Energy Egypt aims to overcome obstacles to supplying more gas to the EU Depleting gas fields and soaring domestic consumption will stymie Egypt’s immediate efforts to boost Europe-bound energy exports – however, new exploration and additional pipelines could help it become a sizeable supplier to the EU later this decade. The EU has vowed to slash its imports of Russian gas by two thirds this year following Vladimir Putin’s […] November 17, 2022
Analysis Energy Ukraine war brings oil and gas underinvestment into sharp focus Oil and gas companies have slashed capital expenditure since a 2014 price crash and underinvestment will likely persist, despite the sector’s record profits this year, industry experts have warned. Saudi Aramco’s second-quarter net income of $48.4 billion was its largest since going public in 2019. ExxonMobil and Chevron and many other international oil companies also […] October 28, 2022
