Friday 28 October 2016

Genel to take about $1bn impairment on Iraqi Kurdistan field

Genel Energy said it expected to book about $1 billion in impairment to the 2015 value of its Taq Taq oilfield in Iraqi Kurdistan, citing reduced estimate for recoverable reserves there and falling oil prices.  


Dana Gas blames oil slump, impairment for Q4 loss

Abu Dhabi-listed Dana Gas reported a fourth-quarter loss on Thursday that the company blamed on lower oil prices and an impairment charge. Dana Gas, based in Sharjah, one of the seven emirates in the UAE, made a net loss of Dh15 m


NBAD Q4 profit edges down on impairments

National Bank of Abu Dhabi (NBAD) on Tuesday posted a one per cent decline in fourth quarter net profit, missing analysts' forecasts, as the UAE lender was hurt by rising impairment charges. The country's largest bank market value,


Mena banks back impairment accounting plans

Majority of the banks in the Middle East and North Africa region expect impairment accounting proposals to improve financial statements, according to a survey by leading audit firm Deloitte. The Mena-headquartered banks believe that Intern

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