Falling natural gas prices in North America led to a big drop in profits and revenues in the second quarter of the year for the Abu Dhabi National Energy Company, better known as Taqa.
The government-owned company recorded sales of Dh6 billion(US$1.63bn) in the three months to the end of June, a decline of 14.5 per cent on the same period last year.
Pretax profit also dropped, falling more than 20 per cent to Dh1.1bn but a favourable tax regime allowed net profit to creep up by 2.8 per cent to Dh446 million.
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