Taqa Q2 net loss widens to $160m
ABU DHABI, August 10, 2016
Abu Dhabi National Energy Co (Taqa), the state-owned oil explorer and power supplier, on Wednesday reported a second-quarter net loss of Dh588 million ($160.2 million), as it was hit by low oil prices.
This compares with a net loss of Dh421 million in the same quarter of last year, Taqa said in a bourse filing.
Revenues from oil and gas fell to 1.04 billion dirhams in the second quarter versus Dh1.59 billion in the prior-year period. – Reuters