The government of Iraq's Kurdistan region said it would continue to pursue huge financial claims against a consortium including Dana Gas, after the UAE company announced it had won an arbitration award in their long-running dispute.
A London court, ruling in a dispute that dragged on for six years, has ordered the Kurdistan Regional Government (KRG) in Iraq to pay $1.98 billion to a consortium including Dana Gas of the UAE, Dana said on Sunday.
A tribunal of
UAE energy firm Dana Gas, one of the largest investors in Iraq's Kurdistan region, on Sunday said the British High Court had ordered the Kurdish regional government to pay Dana's consortium $100 million within 14 days.
UAE energy firm Dana Gas swung to a third-quarter loss on Sunday, hurt by erosion of hydrocarbon prices.
Dana reported a net loss of $9 million in the three months to September 30, from a profit of $38 million in the prior-year pe
UAE-based energy firm Dana Gas posted an 85 per cent fall in its second-quarter net profit on Thursday.
The privately-owned energy firm made a net profit of Dh25 million ($6.8 million) in the three months to June 30, down from Dh1
Dana Gas, one of the largest oil and gas investors in Iraq's semi-autonomous Kurdish region, said on Sunday that it had obtained a favourable ruling from a London arbitration tribunal in its dispute with Kurdistan authorities.
The United Arab Emirates' Dana Gas has signed an agreement for BP to pay for part of its exploration costs in the El Matriya onshore concession area in Egypt, the UAE firm said on Tuesday.
BP will pay for up to $39 million of
United Arab Emirates energy firm Dana Gas posted a 73.3 per cent drop in its first-quarter net profit on Tuesday due to lower hydrocarbon prices but said it was pressing ahead with an offshore gas project in its home country.
Abu Dhabi-listed Dana Gas reported a fourth-quarter loss on Thursday that the company blamed on lower oil prices and an impairment charge.
Dana Gas, based in Sharjah, one of the seven emirates in the UAE, made a net loss of Dh15 m