Thursday, 5 February 2015

UPDATE 1-UAE's Dana Gas blames oil prices, Egypt charge for Q4 loss


* Q4 loss 15 mln dirhams vs 128 mln profit a year earlier
* Company took $22 mln charge on Egyptian oil and gas assets
* 2014 profit 457 mln dirhams, down from 571 mln in 2013. (Adds details on impairment, production, CEO quote)
DUBAI, Feb 5 (Reuters) - Abu Dhabi-listed Dana Gas reported a fourth-quarter loss on Thursday that the company blamed on lower oil prices and a fall in the value of its oil and gas assets in Egypt.
The Sharjah-based company, which operates in Egypt, the United Arab Emirates (UAE) and Iraq's Kurdistan region, made a net loss of 15 million dirhams ($4 million) in the three months to Dec. 31, down from a profit of 128 million a year earlier.
 

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