Dubai: Dana Gas said it has received an amount of $14.4 million (Dh52.8 million) from Pearl Petroleum Company for condensate and LPG sales in the Kurdistan Region of Iraq in the first quarter of 2018.

“This amount does not includes the company’s share of amounts received from the Kurdistan Regional Government and local traders and kept at Pearl Petroleum to cover operating costs and capex [capital expenditure] requirements,” the Middle East natural gas company said in an emailed statement.

Dana Gas closed 1.05 per cent lower to Dh0.98.