Abu Dhabi’s Taqa generates $59.4m earnings in Q3

11 Nov 2010

(MENAFN) Abu Dhabi National Energy Company (Taqa) announced that its net profits had more than doubled during the July-September period, reaching $59.4 million in 2010, compared to $24.5 million during the corresponding period in 2009, Gulf News reported.

According to Taqa, the surge in third quarter earnings came as a result of increased oil prices, share of income from the Sohar aluminum plant and liquidated damages received for Fujairah 2.

Revenue from oil and gas climbed to $435.6 billion during the July-September period of 2010 from $381.2 billion a year earlier, whereas revenue from power and water stayed stable at $435.6 billion.

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