Dana Gas, listed on the Abu Dhabi Securities Exchange, announced a decision in its favour by the London Court of International Arbitration in the context of the arbitration lawsuit filed by IBR Al Wastani Petroleum Group regarding The sale and purchase agreement, under which Dana Gas was to sell its oil and gas assets in Egypt.
The court's decision rejected the lawsuit of the IBR El Wastani Petroleum Group in its entirety, while the Board of Directors of Dana Gas decided to terminate the sale agreement and continue to retain and operate the company's assets in Egypt.
Dana Gas' profits rose 41% in the first quarter of this year; To reach 88 million dirhams, compared to profits of 62 million dirhams for the same period in 2020.
