Dana Gas 2010 profit up 80%

31 Jan 2011

(MENAFN) Dana Gas reported a 40 percent increase in revenue amounting to $485.95 million and a 79 percent increase in profit to a total of $212.621 million in its last year’s sales of hydrocarbons, compared to 2009, reported Gulf News.

The largest natural gas company in the Middle East’s private sector said that the impressing numbers are a sign that the company’s production is increasing in several areas such as Egypt and Khor Mor field in the Kurdistan Region of Iraq. They also reflect higher oil prices especially in 2010’s fourth quarter.

The company added that there was also an eighty percent increase in its full year net profit to $43 million in 2010 compared to $24 million in 2009.

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