Dana Gas, one of Middle East’s largest regional private sector natural gas companies, said it generated a net profit of AED 410 million ($112 million) in the nine months to September 30, 2024, compared to AED 462 million during the same period in 2023.

The company’s revenue for the first nine months of 2024 stood at AED 1,048 million ($286 million), a 12% decline from AED 1,195 million ($326 million) in 9M 2023, given lower realized prices in condensate and LPG segments.

It generated a net profit of AED 410 million ($112 million) compared to AED 462 million ($126 million) in 9M 2023, due to lower realised prices and production decline in Egypt.

The company said its continued focus on driving cost and production optimisation, particularly in the KRI, minimises the financial impact of these challenges. – TradeArabia News Service