Dana Gas profits jump to $45 million
Dana Gas has announced a rise in profit from 2013.
Dana Gas, a UAE-based natural gas company has announced a 67% year-on-year climb in first quarter 2014 operating profit.
According to a statement released by the company, Dana Gas saw profits rise from $27 million to $45 million.
The company’s gross revenue, however, stood at $180 million, up 18%cent from the first quarter in 2013 ($152 million).
Increased production and sales as well as more stringent control of operational expenditure were the drivers of revenue and operating profit.
The company’s overall output was up 12%, recording an average of 68,800 bbl of oil equivalent per day compared to 61,400 during the same period last year