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Taqa swings to Q3 net loss of $113m

ABU DHABI, November 11, 2015

Abu Dhabi National Energy Company (Taqa), the state-owned oil explorer and power supplier, swung to a net loss in the third-quarter, it said on Wednesday, as revenues were hit by weak oil prices.

Taqa, 75 per cent owned by the government of Abu Dhabi, reported a net loss of Dh416 million ($113.3 million) for the quarter ending Sept. 30, compared with a net profit of Dh107 million in the prior-year period, the company said in a statement. – Reuters


 




Tags: Taqa | Abu Dhabi National Energy Company | loss |

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