Abu Dhabi-listed energy firm Dana Gas reported a 50 per cent drop in first-quarter profit that it blamed on lower hydrocarbon prices and reduced output in Egypt and Kurdistan.

Dana made a net profit of $6 million in the three months to March 31. This compares with a profit of $12 million in the prior-year period, it said in a statement, and resumes an earnings slump.

In 2015, Dana Gas reported falling profits in the first and second quarters and losses in the third quarter before posting a big jump in profit in the final three months of last year after it booked a one-off gain relating to an arbitration case.