By John Lee. Pearl Petroleum terminated Enerflex's contract for the Khor Mor Gas Expansion Project due to alleged performance issues and project delays. Enerflex disputes the termination, citing a deadly drone attack near the project site and invoking force majeure due to safety concerns. A significant dispute has emerged between Pearl Petroleum, developer of the […]
By Bahrooz Jaafar. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Fortifying Futures: Securing Energy Sovereignty through the Kurdistan Region's Khor Mor Gas Field Amidst global economic challenges, including concerns over energy and food security, oil operations in the Kurdistan Region face a […]
By John Lee. Dana Gas announced on Friday that production at the Khor Mor facility in the Kurdistan Region of Iraq has been restored to normal levels following the recent attack. The facility's daily production output capacity now exceeds 500 million standard cubic feet (MMscf) of gas, 1,100 metric tons (MT) of LPG and 15,000 […]
By John Lee. Dana Gas has said it is resuming operations at its Khor Mor gas field in Iraqi Kurdistan "in a phased manner." In a statement to the Abu Dhabi Securities Exchange on Wednesday, the company said: "Based upon concrete actions which have been taken by the Government of Iraq and the Kurdistan Regional […]
By John Lee. A drone attack on Friday evening has killed four workers at Khor Mor gas field in Sulaymaniyah province. Press reports say the dead were Yemeni nationals. Electricity supplies have also been disrupted. A KRG statement said that initial information suggested the attacks come from "a nearby region within Iraq"; KRG Prime Minister […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq seeks to buy Khor Mor gas for electricity The Iraqi electricity ministry is seeking to purchase gas from Sulaimani's Khor Mor gas field to cover its needs and avoid power shortages in the […]
By John Lee. Dana Gas has informed the market that a liquid storage tank at the Khor Mor facility in the Kurdistan Region of Iraq was struck by a suspected drone on the evening of Thursday, 25 January. It said there were no injuries to personnel, but that production was temporarily suspended to put out […]
By John Lee. UAE-based Dana Gas said on Wednesday that its Pearl Petroleum subsidiary recently received $101 million payments from the Kurdistan Regional Government (KRG). However, the shares were trading down approximately 1 percent, as overall revenues and profits saw a decline. Full statement from Dana Gas: Highlights - H1 2023 KRI production increased by […]
Dana Gas has announced its financial results for the first quarter ended 31 March 2023. For the first quarter of 2023, the Company generated a net profit of AED 183 million ($50 million) as compared to AED 198 million ($54 million) in Q1 2022. Profitability for the quarter dropped just 7% compared to a 22% […]
Dana Gas PJSC has announced its preliminary financial results for the full year ended 31 December 2022: The Company reported net profit of AED 667 million ($182mm) in 2022 as compared to AED 1.16 billion ($317mm) in 2021. Excluding other income and impairments, Dana Gas reported adjusted net profit of AED 718 million ($196mm) as […]
By John Lee. Three companies have reportedly stopped operations at Kurdistan's Khor Mor gas field following rocket attacks. According to Reuters, the companies are Texas-based Exterran, and Turkish subcontractors Havatek and Biltek. The field is operated by Pearl Petroleum, a consortium led by UAE-based Dana Gas and Crescent Petroleum. More here. (Source: Reuters)
Dana Gas PJSC has announced its financial results for the half year ended 30 June 2022. In the first six months of the year, the Company generated a net profit of AED 407 million ($111mm) or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED […]
