The Sharjah-based indepedent’s 2 February disclosure to the Abu Dhabi stock exchange came as it said, that it had received no significant payments from Iraqi Kurdistan since last July, though it still managed an increase in fourth quarter profits (see p20).

Dana Gas said on 2 February that the company, which has a 40% stake in the Pearl Consortium in Iraqi Kurdistan, had collected $69mn in receivables from its Kurdish operations early in 2013 but that some $515mn was still outstanding. (CONTINUED - 800 WORDS)