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FINANCIAL NEWS
Taqa witnesses profit plunge of 80% in Jan-Mar
09 May 2013
(MENAFN) Taqa’s net profit during the first three months of the year went down by 80 percent reaching USD28.85 million, reported Gulf News.
The daily oil and gas production went down from 134,000 barrels per day (bpd) to 127,000, representing a decline of 6 percent.
Despite the fact of the drop, the company is still making progress in some areas of the North Sea and Netherlands.
Stephen Kersley, Taqa’s CFO mentioned that the company’s dept reached USD21.85 billion during the first three months of 2013, showing an increase from the same time of last year.
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