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Tag: Dana Gas
Dana Gas

Dana Gas says Egypt asset sale didn’t do its earnings any favors

Posted: February 15, 2021 at 11:11 pm   /   Oil & Gas

Dana Gas points to Egypt asset sale for its 2020 losses: Abu Dhabi-listed energy producer Dana Gas reported a net loss of USD 376 mn in 2020, compared to a net profit of USD 157 mn the year before, according to an earnings release. The Emirati firm attributed the bulk of the losses to Egypt, […]

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Dana Gas

Dana Gas sells its Egypt Onshore Producing Assets to IPR Energy

Posted: October 25, 2020 at 12:52 pm   /   Oil & Gas

IPR Energy Group Announces Acquisition of Dana Gas, Nile Delta, Egypt, Assets IPR Energy Group (“IPR”) announced that it has agreed to acquire Dana Gas Egypt onshore Nile Delta assets, transforming IPR into one of Egypt’s leading local independent oil & gas companies. The transaction is subject to customary regulatory approvals and is expected to […]

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Dana Gas

Dana Gas in talks with IPR Energy over the sale of its Egypt assets

Posted: September 3, 2020 at 2:40 pm   /   Oil & Gas

United Arab Emirates’ Dana Gas is negotiating details of a sale of its Egyptian assets with Texas-headquartered IPR Energy, three sources familiar with the matter said, ahead of a repayment of some $300 million in debt in October. The energy producer – whose main assets are in Egypt and in the Kurdistan Region of Iraq […]

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Dana Gas

Dana Gas to demerge its Upstream and Midstream businesses

Posted: April 25, 2020 at 2:18 pm   /   Oil & Gas

Shareholders of Dana Gas, the Middle East’s largest regional private sector natural gas company, at the Annual General Meeting gave approval for the demerger of the Company’s Upstream and Midstream businesses. Shareholders also approved the Board of Director’s recommendation to distribute an AED 5.5 fils per cash dividend for the financial year ended 31 December […]

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Dana Gas

UAE’s Dana Gas confirms delay of its Egyptian assets sale

Posted: April 10, 2020 at 9:14 pm   /   Oil & Gas

Dana Gas confirms its review of potential Egypt asset sale is behind schedule: Dana Gas is still moving head with its review of whether it will sell its onshore and offshore Egypt assets, but the process has been slowed down by the covid-19 pandemic and is currently running behind schedule, the UAE company said a […]

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Dana Gas

UAE’s Dana Gas delays its decision on Egypt assets sale due to market turmoil

Posted: April 6, 2020 at 12:40 pm   /   Oil & Gas

Dana Gas delays its decision on Egypt asset sale on covid fears: Dana Gas has postponed its decision on whether it will sell its Egypt assets because of the global covid-induced market turmoil, Reuters reports, citing two unnamed sources close to the talks. Plunging oil prices probably haven’t helped matters. The Emirati energy company is […]

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Dana Gas

Dana Gas to make decision on its Egypt assets sale by end of March

Posted: February 15, 2020 at 2:06 pm   /   Oil & Gas

Dana Gas received “numerous” bids for its Egypt assets in 2H2019 and is currently finalizing the technical and commercial evaluation ahead of making a final decision by the end of March, the company said in its annual earnings release. Investors have bid for the company’s onshore and offshore assets, CEO Patrick Allman-Ward said on an […]

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Cheiron

MEES: Egypt’s independent Cheiron is frontrunner for Dana Gas’ assets

Posted: January 21, 2020 at 3:24 pm   /   Oil & Gas

Egypt’s Cheiron Tipped For Dana Assets: MEES learns that Egyptian independent Cheiron is the frontrunner for UAE-based Dana Gas’ Egypt acreage, which was officially put on sale for $500 million in July last year. Dana’s decision to sell-up was precipitated following the flop of its Merak prospect, located in the country’s Mediterranean offshore, north of […]

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eni

Eni CEO doesn’t rule out interest in Dana Gas Egypt assets, but not a priority

Posted: November 12, 2019 at 4:00 pm   /   Oil & Gas

Eni’s chief executive does not rule out a possible interest for the Egyptian assets of Dana Gas but says any potential bid is unlikely since the Italian major already has a lot of resources in the area. Earlier this year United Arab Emirates’ Dana Gas hired an adviser for the possible sale of its assets […]

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Eni CEO

Eni is not interested in acquiring Dana Gas Egypt portfolio of assets

Posted: November 12, 2019 at 12:30 pm   /   Oil & Gas

Italy’s Eni is not looking to acquire the Dana Gas’ portfolio of assets in Egypt, Eni CEO Claudio Descalzi tells Bloomberg TV. Descalzi stressed that Eni is satisfied with its portfolio for the time being and plans to focus on developing current assets before biting off more. Dana Gas had received offers for buying its […]

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