Dubai – Mubasher: Dana Gas on Thursday announced that its profits declined to AED 305 million ($83 million) for the full-year ended 31 December 2017 from AED 323 million ($88 million) in 2016.
The Middle East’s largest regional natural gas company's revenues hiked 15% to AED 1.65 billion ($450 million) during the fiscal year 2016-2017, Dana said in a statement.
The UAE-based energy producer attributed the increase in its annual revenues to higher hydrocarbon prices and increased production in Egypt, the statement showed.
During the full year 2017, the group’s average production levelled up 1% to 67,600 barrels of oil per day, compared to 67,050 bpd in the prior year, according to the Abu Dhabi-listed firm's data.
