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Dana Gas Revenue Jumps 51% Despite KRI Disruptions

Prime Highlights 

  • Hall said the results showed the business’s resilience, with production and profit rising despite regional security challenges affecting KRI operations.  
  • Hall said gas supplies to Iraq’s Ministry of Electricity commenced this week, marking a key step in realising benefits from the KM250 expansion.  

Key Facts 

  • Dana Gas is the Middle East’s largest regional private sector natural gas company.  
  • Reported net profit included a one-off AED176 million gas metering reconciliation; excluding it, net profit was AED217 million.  

Background 

Dana Gas, the Middle East’s largest regional private sector natural gas company, reported a net profit of AED393 million (USD107 million) in the first half of 2026, up 47% from AED270 million (USD73 million) in the same period last year. 

The reported profit included a one-off gas metering reconciliation of AED176 million (USD48 million) recognised earlier in the year. Excluding this item, net profit stood at AED217 million (USD59 million). Second-quarter net profit rose 10% year-on-year to AED123 million (USD33 million). 

Revenue for the half-year increased 51% to AED946 million (USD258 million), compared with AED627 million (USD171 million) a year earlier. Excluding the one-off item, revenue rose by AED143 million (USD39 million), driven mainly by higher realised hydrocarbon prices, increased production in Egypt and higher sales gas volumes at Pearl Petroleum. Profitability reflected a higher cost base following completion of the KM250 expansion, along with the impact of short-term production disruption, though the company expects these effects to ease as capacity utilisation improves. 

Production in Egypt continued to grow, supported by ongoing investment and drilling activity. In the Kurdistan Region of Iraq, additional processing capacity from the KM250 expansion remained available, though regional security disruptions limited utilisation during parts of the period. 

CEO Richard Hall said the results reflected the resilience of the business, noting the company had managed to raise production and profit despite security-related challenges in the region. He commended field employees in the Kurdistan Region for maintaining operations under difficult conditions and said the company had begun supplying gas to Iraq’s Ministry of Electricity this week, marking a key step in its expansion programme.