Taqa profit falls as oil prices drop

Taqa profit falls as oil prices drop

$1bn fall in profit 4 UK projects halted Revenue up 5% Abu Dhabi National Energy Company (Taqa) said net profit for the first half of this year fell 20 percent year on year due to the ceasing of production from four UK projects and lower oil prices. The bottom line of the energy major fell to AED3.7 billion ($1 billion) in the first six months from AED4.6 billion a year earlier. Taqa is involved in decommissioning North Sea oil and gas platforms…