Crescent Petroleum: A family business


Crescent Petroleum – the leading shareholder of publicly traded sister company Dana Gas – was founded by Hamid Jafar, who bought up the assets of US firm Buttes Oil and Gas in the early 1970s. It has since expanded into the Crescent Group of companies, picking up assets along the way including stakes and subsidiaries in businesses such as port and logistics company Gulftainer and airline Gama aviation. It remains a family company.