Dana Gas says received $19 million from Egypt operations

2019-03-31 10:53:06 GMT (Economies.com)
 

Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announced it has received a payment of $19 million (AED 70 million) from its operations in Egypt. 

 

This payment is made up of a $10 million payment from the Government in Egyptian pounds and $9.0 million from the sale of a shipment of El Wastani condensate, it added.

 

The payment is part of the Government’s ongoing efforts to reduce their receivables position to zero in 2019. In 2018, the Company made good progress in reducing its outstanding balance of overdue receivables. As at 31 December 2018, the net receivables position reduced by 39% to $140 million, the lowest level since 2011. 

 

Dana Gas said earlier it received an amount of AED 1.2 billion ($324 million) during 2018 from its operations in Egypt, the Kurdistan Region of Iraq, and Emirate of Sharjah.

 
 
 
  Symbol Last Change Chg.%
1.1082
0.0020
0.1853%
1.3136
-0.0001
0.0084%
Tadawul
8131.50
65.08
0.81%
16.647
0.075
0.453%
58.925
-0.185
0.313%
63.85
-0.48
0.75%
1464.855
5.010
0.343%
 
 
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