Abu Dhabi Nationwide Power Firm PJSC (TAQA), one of many largest listed built-in utility corporations within the area, has initiated a strategic evaluation of its oil and fuel operations
The evaluation will assess strategic choices for the oil and fuel division and the optimum course for its future growth, whereas considering the evolution of the worldwide vitality trade because it transitions in the direction of a cleaner and extra sustainable future.
All choices can be thought-about, together with the sale of some or all of the belongings, or the retention and growth of the belongings inside the TAQA Group.
Following the launch of TAQA’s new technique in March of this 12 months the corporate’s progress can be targeted on considerably rising its utilities enterprise each within the UAE and internationally.
Since 2005, TAQA has constructed a high-quality portfolio of upstream and midstream operations within the UK North Sea, the Netherlands, Canada and the Kurdistan Area of Iraq. Within the first half of 2021, manufacturing throughout the portfolio totalled greater than 124,000 barrels of oil equal per day and generated revenues of US$937mn with a internet revenue of US$145mn.