TAQA reported net income attributable to shareholders of USD 3.16 billion in Q1 2023, up by USD 2.61 billion from the same quarter in 2022.
The company’s group revenues rose 6% in USD 3.57, 6% higher than the same quarter in the previous year.
According to the TAQA, the boost in income is based on strong returns on its utilities and acquiring a 5% stake in ADNOC Gas in the quarter.
ADNOC announced its plans for an IPO of its gas unit ADNOC Gas in February 2023 and raised the offer in the same month.
Under ADNOC Gas’ dividend policy, TAQA is expected to receive dividends of USD 81.1 million in 2023 and USD 166 million in 2024.
TAQA has shares in utilities and energy assets across the Middle East, Africa, Europe and North America.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.