The discovery of a world-class resource of this size could easily support an offshore field development.
Sharjah-based Dana Gas’ net profit jumped 483 per cent to $140 million (Dhs513 million) in first half of 2019 compared with $24 million (Dhs88 million) in the same period last year.
Dana Gas has robust operations and cash flows since a large part of the company’s revenue comes from long-term gas contracts rather than oil, whose price is largely uncorrelated to oil.
Dana Gas has announced that natural gas currently constitutes 75 per cent of the company’s production, which is sold under long term gas sale contracts with host governments at prices which are unaffected by falling oil prices.
Lee Kun-hee, South Korea’s richest person and chairman of Samsung Electronics Co, died on Sunday, leaving behind considerable assets subject to be potentially inherited by his surviving family as well as inheritance tax.
Commercial Bank of Dubai, one of the leading financial institutions in the UAE, entered into a partnership with Al Fardan Exchange, the leading exchange house in the UAE, to be a channel partner for issuing and topping-up
Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade - following his appointment as new Deputy Chairman of the Board of Directors of Etihad Credit Insurance (ECI) - visited ECI’s branch in Dubai.