Dana Gas has announced that its full-year net profit for 2012 rose 20 per cent year-on-year due primarily to higher oil prices and lower production costs
The Abu Dhabi-listed energy firm's net profit rose to US$165mn from US$138mn in 2011, the company said in a statement.
Dana, in whom Crescent Petroleum has a 20 per cent stake, said it collected US$301mn from its share of receivables in Egypt and Kurdistan Region of Iraq in 2012.
The company's cash balance rose by 47 per cent to US$165mn, while total assets reached US$3.5bn at the end of December 2012.
