Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- TAQA incurs USD78.4m loss in Q3  Join our daily free Newsletter

MENAFN - 14/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Abu Dhabi National Energy Co (TAQA) CFO, Stephen Kersley, stated that the company incurred a USD78.4 million loss in the third quarter, compared with a profit of USD146.16 million in 2011's same period, reported Arabian Business.

Kersley attributed the result to higher costs and lower natural gas prices.

Construction costs of USD743 million hurt TAQA's financial results, as the company spent the money on the Jorf Lasfar power plant in Morocco.

Third-quarter revenue surged 43 percent to USD2.40 billion, up from USD1.68 billion in the same period a year earlier.

On the other hand, the company's oil and gas revenues declined to USD696 million from USD745 million, whereas fuel revenue fell to USD259.12 million, compared with USD313 million.

It is worth noting that TAQA operates power plants in Morocco, Saudi, Ghana and India, and plans to launch oil and gas operations in Northern Africa.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help