Abu Dhabi Natl Energy's Q2 profit jumps on higher oil prices | Reuters

Abu Dhabi Natl Energy's Q2 profit jumps on higher oil prices | Reuters:

Abu Dhabi National Energy Company (TAQA) on Thursday reported a nearly five-fold rise in second-quarter profit, as higher oil and liquids prices offset a drop in production. 


The state-owned oil explorer and power supplier made a profit attributable to equity holders of 168 million dirhams ($45.7 million) in the three months ended June 30, it said in a bourse statement.

That compares with 35 million dirhams reported for the year-earlier period.