Dana Dues Rise Again

UAE-based independent Dana Gas collected just $3mn from Egypt – a black mark for the Egypt General Petroleum Corporation (EGPC), which hopes to attract significant IOC interest to its bid round which closes next week – and did not receive any payment whatsoever from its KRG operations in the first quarter.

At the end of 1Q14, Dana’s outstanding receivables balance stood at $568mn. While the firm’s Egypt receivables were partially...