Record oil production sees Taqa swing to Q2 profit
Published: Aug 13, 2014
Source: Emirates 24|7


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Record oil production sees Taqa swing to Q2 profit

Reported net profits of Dh239 million

Abu Dhabi National Energy Co (Taqa), the state-owned oil explorer and power supplier, swung to a profit in its second quarter, buoyed by record oil and gas production.

Taqa, 75 per cent owned by the government of Abu Dhabi, reported net profits of Dh239 million ($65.1m) for the quarter ended June 30 compared with a loss of Dh172m a year earlier, the company said on Wednesday - By Reuters. Read more>>>


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