Dana Gas, the Middle East’s largest regional private sector natural gas company, has reported a net profit of AED558 million ($152 million) for 9M 2026, compared with AED379 million ($103 million) in 9M 2025, an increase of 48%.
The company's strong performance was driven by higher production and a stronger oil price environment, with improved realised hydrocarbon prices providing a significant contribution to revenue and profitability.
The nine-month result includes a one-off positive gas metering reconciliation of AED176 million ($48 million), recognised in Q1 2026. Excluding this adjustment, net profit was AED382 million ($104 million), compared with reported net profit of AED379 million ($103 million) in 9M 2025. Q3 2026 net profit increased 50% year-on-year to AED165 million ($45 million), compared with AED109 million ($30 million) in Q3 2025.
Revenue for the nine-month period in 2026 increased 48% to AED1.38 billion ($377 million), compared with AED935 million ($255 million) in 9M 2025. Excluding the one-off metering adjustment in Q1, revenue increased by $74 million, or 29%, year-on-year, driven by higher production and gas sales volumes in both the KRI and Egypt, alongside stronger realised hydrocarbon prices. Q3 revenue reached AED436 million ($119 million), up 42% from AED308 million ($84 million) in Q3 2025.
EBITDA increased 61% to AED917 million ($250 million), compared with AED570 million ($155 million) in 9M 2025, reflecting improved operational performance and higher realised hydrocarbon prices.
Operationally, higher utilisation of the KM250 expansion at Khor Mor lifted production during Q3, while Egypt’s drilling programme continued to deliver production growth and additional gas resources. The expanded facilities at Khor Mor provide further growth potential as utilisation increases, with Chemchemal progressing as the next major development project.
Richard Hall, CEO of Dana Gas, commented: “I am pleased to report a strong third-quarter performance, with Group production increasing 17% and net profit rising 50%. Higher production at Khor Mor and stronger realised hydrocarbon prices have driven improved earnings, demonstrating the tangible returns from our investments. We see significant further potential as utilisation of the expanded facilities increases.
"Our investment programme in Egypt continues to deliver strong results, with new wells adding production and gas resources. The improved payment position gives us greater confidence to keep investing and build on this progress. We are also advancing Chemchemal as our next major growth project, with drilling planned before year-end and long-term gas sales agreements already in place.
"Looking ahead, our priority is to sustain this momentum, further strengthen cash generation, and deliver long-term value to Shareholders. We continue to engage constructively with the KRI to improve collections and reduce outstanding receivables. Together with our strengthening financial position, these continued efforts underpin our commitment to sustainable dividends.” -TradeArabia News Service