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Dana Gas shares stabilise on Iran progress

: Tuesday, August 12 - 2014 @ 18:06

With an index loss of 0.20 per cent, the Abu Dhabi exchange index ADXGI quit the trading session on Tuesday, August 12, closing at 4,987.37 points.

After a sharp decline in July, Dana Gas fought its way back above AED.70. The shares closed today 1.41 per cent higher at AED0.72. Earlier in the week, the Sharjah-based gas company revealed it won an arbitration ruling against the Islamic Republic of Iran. An international tribunal ruled that a 25-year contract has to be fulfilled by National Iranian Oil Company. The contract states that Iran has to supply gas to Crescent Petroleum, a Dana Gas partner firm.

Gérard Al-Fil

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Tuesday, August 12- 2014 @ 18:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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