Abu Dhabi National Energy Company (Taqa), the state-controlled oil explorer and power supplier, swung to a net loss of Dh421 million ($114.7 million) in the second quarter as revenues from oil and gas nearly halved, hit by lower prices.
Abu Dhabi National Energy Company (Taqa) is close to completing a $3.1 billion five-year loan which will be used to consolidate existing debts into a new, lower-cost facility, three sources aware of the matter told Reuters on Wednesday.
Abu Dhabi National Energy Company (Taqa) has reported a net loss of Dh66 million ($17.9 million) in the first half of the year as against a profit of Dh981 million for the same period of 2012 on operational issues.
For the second
Britain has approved plans by Abu Dhabi National Energy (Taqa) to develop part of the Cladhan field in the UK North Sea, with first oil expected in early 2015, the company said in a statement on Wednesday.
Cladhan is expected to p
Abu Dhabi National Energy Company (Taqa) expects to increase capital spending to between $2.0 billion to $2.2 billion this year as it pushes ahead with expansion plans.
Taqa, which is 75-per cent owned by the government of Abu Dhabi, spent
State-run Abu Dhabi National Energy Co (Taqa) aims to raise at least $1 billion from a two-tranche bond sale pricing on Monday, lead arrangers said, to help refinance debt maturing next year.
Taqa, which is 75 percent owned by the governme
Abu Dhabi National Energy Co (Taqa) said on Wednesday it bought Total SA's entire 81 percent stake in production licences for two blocks in the North Sea Otter oilfield.
The deal is one of a series of recent acquisitions
Abu Dhabi National Energy Co (Taqa) plans to spend $1.4 billion on five capital projects this year as the state-owned utility shifts its focus from acquisitions to internal growth, its general manager said.
Carl Sheldon also said the compa
Falling oil and gas prices helped to push net profit at Abu Dhabi National Energy Company (Taqa), a leading energy investment company, down 90 per cent to Dh40 million ($10.89 million) in the first quarter, the company said.
Oil and gas re
Abu Dhabi-based Taqa has signed a $3.15 billion, three-year revolving credit via initial mandated lead arrangers and bookrunners.
The arrangers include Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, HSBC, National Bank of Abu Dhabi a