UAE-listed Dana Gas recorded a 15% rise in net profits for 2015 despite tumbling oil prices causing revenues to fall by 39% from $683mn to $417mn.

But the profit rise, to $144mn from $125mn for 2014, was attributable to a one-off arbitration settlement. The firm is still mired in a legal wrangle with Iraq’s Kurdistan Regional Government (KRG) over payments, while oil prices continue to hover around $30/B. (CONTINUED - 969 WORDS)