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22/03/2018 07:54 AST
Pearl Petroluem, a consortium led by Crescent Petroluem and Dana Gas, on Wednesday said that it has signed a 10-year gas sales agreement with the Kurdistan regional government.
Under the agreement, it plans to supply and sell additional quantities of gas that it plans to begin producing later this year in order to boost much-needed local domestic electricity generation, the company said in a statement posted on the Abu Dhabi Securities Exchange's website.
This will enable an increase in delivered gas production from the Khor Mor Field by an anticipated 80 million cubic feet of sales gas per day before the end of 2018, on top of the current level of 305 million cubic feet per day.
All contractual conditions have since been satisfied and consequently the project work has now commenced, the statement added.
Total investment to date exceeds $1.3 billion (Dh4.77 billion), with total cumulative production over 228 million barrels of oil equivalent (boe), which has resulted in billions of dollars of fuel cost savings and economic benefits for the Kurdistan Region and Iraq as a whole.
Gulf News
28/03/2018
Dana Gas will seek shareholder approval to pay a dividend for 2017, it said on Sunday, in a move that could complicate its legal dispute with investors demanding that the company settles $700mn of Is
Gulf Times
27/03/2018
Dana Gas, the Sharjah company tangled in legal battles over the legality of its $700 million sukuk, said on Monday a UAE court has issued a new anti-suit injunction against BlackRock, the world's big
The National
26/03/2018
Gulf stock markets were generally little changed on Sunday, though Abu Dhabi's Dana Gas surged on news of plans for its first annual dividend for several years.
The Abu Dhabi index rose 0.
The Gulf Today
| Ticker | Price | Volume |
|---|---|---|
| TRAFCO | 0.29 | 0 |
| MAADANIYAH | 18.00 | 151,342 |
| JAZADCO | 13.40 | 253,503 |
| EMIRATES | 58.80 | 0 |
| SAUDIKAYAN | 6.74 | 2,338,843 |
| ALNAQOOL | 33.00 | 1,463 |
| ASG | 0.00 | 0 |
| Ticker | Price | Change |
|---|---|---|
| SAUDIARAMCO | 27.70 | 0.00 (0.00 |
| ABAR | 158.00 | -1.00 (-0.63 |
| ADNOCGAS | 3.48 | 0.12 (3.57 |
| ADNOCDRILL | 5.51 | 0.03 (0.54 |
| BAHRI | 29.55 | -0.15 (-0.51 |
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
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