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Wednesday, 9 November 2016

UAE energy firm TAQA posts wider Q3 loss on oil price slump | Reuters

UAE energy firm TAQA posts wider Q3 loss on oil price slump | Reuters:
"Abu Dhabi National Energy Co (TAQA), the state-owned oil explorer and power supplier, reported on Wednesday a wider loss for the third quarter caused by the drop in oil prices.

TAQA, majority-owned by Abu Dhabi's government, made a net loss attributable to equity holders of 524 million dirhams ($143 million) in the three months ended Sept. 30, according to a bourse filing.

This compares with a net loss of 416 million dirhams in the previous-year period."

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