Tag Archives | Sharjah

Dana Gas gets $44m from KRG in 1H

By John Lee. Dana Gas has said it has received $43.8 million in dividends from Pearl Petroleum Company Limited for condensate and LPG sales in the Kurdistan Region of Iraq (KRI) in the first half of 2018, including a $7 million payment for the month of June. The company added that the capacity to process […]

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Ducorr completes Corrosion Protection work at Majnoon

By John Lee. Sharjah-based Ducorr has reportedly completed the design and deployment of a cathodic protection system for Shell’s Majnoon oil field. Construction Week Online quotes company sources as saying that the flowlines were buried in very corrosive soil, hence the need for protection. (Source: Construction Week Online)

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Crescent Petroleum hopes to Expand in Iraq

By John Lee. Sharjah-based Crescent Petroleum plans to expand further in Iraq, according to a report from The National. The newspaper quotes chief executive Majid Jafar (pictured) as saying: “What we see in the region is the potential is much higher than what we’ve achieved so far.” In Iraq, the company is said to be […]

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Medserv Acquires METS

Malta-based Medserv has announced that it has today completed the acquisition of Middle East Tubular Services (METS), a group of companies based in the UAE, Oman and Iraq. Established in 2006 in Sharjah, UAE, METS has grown rapidly becoming a market leader due to its position as the only one-stop-shop for oil country tubular goods […]

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Dana Gas ‘Still Waiting’ for $1.98bn from KRG

By John Lee. Bloomberg reports that Dana Gas PJSC is still waiting for payment of the $1.98 billion that it and two other energy companies — Crescent Petroleum and Pearl Petroleum — were awarded by the London Court of International Arbitration (LCIA) in November. The court gave the Kurdistan Regional Government 28 days to pay […]

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Dana Gas Reaches Settlement With RWE

By John Lee. UAE-based Dana Gas has announced that it has reached an “amicable and mutually beneficial settlement agreement” with RWE’s trading unit RWE Suppy & Trading GmbH (RWEST) to resolve a dispute over its operations in Iraqi Kurdistan. The detailed terms of the settlement agreement are to be treated in accordance with the confidentiality […]

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Dana Gas Shares Rise on $2bn Iraq Judgement

By John Lee. Dana Gas has announced that the London Court of International Arbitration (LCIA) has ordered the Kurdistan Regional Government (KRG) to pay $1.98 billion to a consortium that it leads. In a statement to the Abu Dhabi stock exchange, the Sharjah-based company claims that the judgement is final, binding and internationally enforceable, and […]

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Court Orders KRG Pay Dana Gas $100m

The UK’s High Court has ordered the Kurdistan Regional Government (KRG) to pay a consortium led by Dana Gas $100 million within 14 days. In a statement, the KRG’s Ministry of Natural Resources said: “The Court’s decision does not relate to the substantive merits of the claims and counterclaims in the on-going arbitration between the […]

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Dana Gas, KRG in Spat over Court Ruling

By John Lee. The Kurdistan Regional Government (KRG) has reacted angrily to a statement from Sharjah-based Dana Gas. Shares in the company jumped 13.7 percent on the Abu-Dhabi stock exchange on Sunday after the company won a ruling in the London Court of International Arbitration (LCIA) in its long-running dispute with the KRG in Iraq […]

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Dana Remains Committed to Iraq, Despite Claim

By John Lee. Sharjah-based Dana Gas and its consortium partners, Crescent Petroleum and Pearl Petroleum, is pursuing $100 million (117 billion Iraqi dinars) in payments from the Kurdistan Regional Government (KRG). In a statement to the Abu Dhabi Securities Exchange (ADX), the company said: “The LCIA [London Court of International Arbitration] Tribunal recently ordered the […]

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Dana/Crescent Invest $1bn in Kurdistan

Dana Gas PJSC, the Middle East’s leading private-sector natural gas company, and Crescent Petroleum, the Middle East’s oldest private oil and gas company, in their capacity as joint operators, have announced that the total investment on behalf of the partners in gas operations in the Kurdistan Region of Iraq has exceeded US$1 billion. Total cumulative […]

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Air Arabia Touches Down in Baghdad

Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, today launched non-stop service to the Iraqi Capital, Baghdad, from the carrier’s main hub in Sharjah, UAE. The inaugural flight and delegation was marked by the attendance of Air Arabia Chairman, Sheikh Abdullah Bin Mohamed Al Thani, and Air […]

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