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FINANCIAL NEWS
UAE’s TAQA posts loss in Q3 profits
09 Nov 2016
(MENAFN) Abu Dhabi National Energy Co. (TAQA) recorded a wider loss for the third quarter made by the drop in oil prices.
The loss in profits was attributed to equity holders of USD143mn in the cited period of this year.
However, the firm suffered in recent quarters against a backdrop of lower oil prices, reporting losses in the preceding five quarters.
Moreover, revenue from oil and gas amounted to 1.18bn dirhams in the cited period, compared with almost 1.49bn dirhams in the same period of 2015.
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