Dana Gas - 'We went in with our eyes open'
Dana Gas has struggled to get paid for its work. Yet its chief executive still thinks gas in the Middle East will thrive
"Events, dear boy, events," was British prime minister Harold MacMillan's response when asked what he feared most. Those words may resonate strongly with Patrick Allman-Ward, chief executive of Dana Gas. His company has experienced up close how the unpredictable turn of events in the Middle East can upset the best laid plans. The Abu Dhabi-listed private-sector gas company has been hit hard by receivables problems in its two largest areas of operation, the Kurdistan Region of Iraq (KRI) and Egypt. In the latter, a poor rate of collections weighs on any decision to invest further in the country. Collections were $79m in Egypt in 2016, the company's financials show, just under two-thirds of it
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
