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Dana Gas likely to restructure debt

Dana Gas, the UAE’s Crescent Petroleum affiliate, may be forced to restructure its debt due to late payments related to its Kurdistan Regional Government (KRG) region natural gas project – a problem compounded by receivables issues in Egypt. The Pearl Petroleum consortium, of which Dana is a core member, is delivering gas from the Khor Mor field to power stations at Erbil and Sulaymaniyah.

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