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Business, Economy, Energy

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

UAE’s Dragon Oil announces first oil find in Egypt’s Gulf of Suez

February 16, 2022 8:35 am
  • The discovery is one of the largest in the area in the past 20 years, and the field could contain around 100 million barrels in reserves
  • The announcement was made on the sidelines of the ongoing Egypt Petroleum Show (EGYPS) 2022

Dubai government-owned Dragon Oil has made its first oil discovery in Egypt’s Gulf of Suez on Tuesday.

The discovery is one of the largest in the area in the past 20 years, and the field could contain around 100 million barrels in reserves.

The announcement was made on the sidelines of the ongoing Egypt Petroleum Show (EGYPS) 2022. Dragon Oil in 2019 acquired BP’s stake at the Gulf of Suez Oil Company (GUPCO).

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