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FINANCIAL NEWS
UAE’s Dana Gas posts USD33mn revenue in 2016
12 Feb 2017
(MENAFN) Dana Gas, a pioneering local natural gas firm, recorded a net profit of USD33mn in 2016, which was a decline as compared to USD144mn achieved last year.
Additionally, the gross profits for the fiscal year and Q4, 2016 were USD392mn and USD112mn, respectively.
Moreover, the whole year income saw a decline from USD417mn in 2015 due to lower realized liquid prices despite the increase in the group annual production.
Meanwhile, it also achieved continued successful cost reduction last year, with G& A down 43 percent and Opex down 7 percent.
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MENAFN1202201700450000ID1095242075
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