Abu Dhabi – Mubasher: Dana Gas’ stock hit the highest price in 2019 in Sunday’s mid-trade.
By 01:00 pm UAE time, the stock hiked 4.45% at AED 1.01.
The stock registered AED 22.710 million in turnover after 22.46 million shares were exchanged through 244 transactions.
Dana Gas’ stock increased after the company announced that Pearl Petroleum Company Limited has received AED 411 million ($112 million) from the sale of condensate, liquefied petroleum gas (LPG), and gas in the Kurdistan Region of Iraq (KRI) during the first quarter of 2019.
Dana Gas, which holds a 35% stake in Pearl Petroleum, has a share of AED 143 million ($39 million) in receipts from the sale, up 117% from the company’s Q1-18 share of collections of $18 million.
