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