Taqa, 75 per cent owned by the
Revenue for the second quarter was Dh6.52 billion compared to Dh5.86 billion in the same period a year earlier.
The results mark
"We have achieved record performance during the first half of the year," LaFehr said in a conference call on Wednesday.
The latest quarter saw a pivot in strategy with a Taqa led consortium pulling out of plans to buy two power plants in the north Indian
Last week, Taqa suspended operations at the Atrush Block in
For the first six months of the year Taqa posted a Dh513 million profit, up from a Dhh66 million loss in the first half of 2013. Half-year revenue was Dh13.78 billion compared to Dh11.28 billion a year earlier.
Taqa saw record oil and gas production levels in the first half of the year, averaging 158,000 barrels of oil equivalent per day (boe/d), a 24 per cent increase against the first half of 2013, the company said.
Taqa said it does not intend to return to the bond market until 2017, at the earliest and in April, it refinanced a
Taqa shares finished up 2.75 per cent to Dh1.12 on the
Most Popular Stories
- Consumer Prices Edge Up, Surprising Economists
- Market Jolt Offers a Reality Check for Investors
- Clinton Rallies New England Women
- Stocks Close Out Best Week in Nearly 2 Years
- Do Voters Want Compromise?
- Steris to Add 100 Jobs in Birmingham
- Ebola in New York, Mali Raises Travel Jitters
- Microsoft Earnings Drive Stocks Higher
- Timeline for New York Ebola Doctor
- 'Kissing Congressman' Admits Mistake in Reelection Bid