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Abu Dhabi’s TAQA Projects Capex Of $2-2.5bn In 2014

Abu Dhabi’s TAQA Projects Capex Of $2-2.5bn In 2014

TAQA’s chief executive told media that the firm’s capex will be “a little less than in 2013”.

Abu Dhabi National Energy Co’s (TAQA) capital expenditure for 2014 will be between $2 billion and $2.5 billion, the company’s chief executive said on Tuesday.

Carl Sheldon said this would be “a little less than in 2013”.

He was speaking on a conference call for journalists after the company reported a net loss of Dhs2.52 billion ($687 million) for 2013 because of a non-cash impairment related to the value of its oil and gas holdings in North America.

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