Dana Gas swings to Q4 profit on RWE arbitration gain
UAE-based Dana Gas has announced that its net profit in 2015 increased by 15% to US$144M, compared to US$125M in 2014.The company reported gross revenues and gross profit of US$417M and US$126M, respectively, down from US$683M and US$303M for the full year 2014. The company’s year-end cash and bank balance stood at US$470M, up from US$184M at the end of 2014. During the year the Company has also significantly increased its oil & gas reserves.
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