UAE's Dana Gas to review expenditure in Egypt if payments remain delayed

Dana Gas Company, the Middle East's largest private sector natural gas company, will review its operational and capital expenditure in Egypt in 2017 in the event of the continuation of delay in Cairo's payments, the company said on Wednesday.


In a press release on its third quarter revenues for 2016 , the United Arab Emirates (UAE) company said that Egypt’s accounts receivable balance registered $242 million by the end of September 2016, out of a total $311 million owed to the company for the first nine months.

Dana Gas company said that its total revenues for the past nine months amounted to $280 million compared to $324 million for the same period in 2015, explaining that lower oil prices over the first nine months of 2016 led to the decline.
 [ahram.org.eg]
9/11/16
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