Abu Dhabi National Energy Company PJSC 2016 AR2
The report highlights Abu Dhabi National Energy Company's (TAQA) financial and operational performance for the fiscal year 2016. During this period, the company successfully completed its two-year Transformation Programme, achieving cumulative savings of AED 13.2 billion and reducing capital expenditure by AED 8.6 billion. TAQA achieved record power production of 93,246 GWh, while its oil and gas division maintained stable production of 137,300 boed despite a 70% reduction in capital expenditure. However, due to a lower commodity price environment, the company recorded a post-tax impairment of AED 16.9 billion, resulting in a net loss of AED 19.0 billion.
Company: Abu Dhabi National Energy Company PJSC
Sector: Energy utilities
Country: United Arab Emirates
Year: 2016
Type: AR2
Pages: 100
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Abu Dhabi National Energy Company PJSC
Annual Report
The report highlights Abu Dhabi National Energy Company's (TAQA) financial and operational performance for the fiscal year 2016. During this period, the company successfully completed its two-year Transformation Programme, achieving cumulative savings of AED 13.2 billion and reducing capital expenditure by AED 8.6 billion. TAQA achieved record power production of 93,246 GWh, while its oil and gas division maintained stable production of 137,300 boed despite a 70% reduction in capital expenditure. However, due to a lower commodity price environment, the company recorded a post-tax impairment of AED 16.9 billion, resulting in a net loss of AED 19.0 billion.
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Document Details
Report Year
2016
Reporting Period
Jan 1, 2016 - Dec 31, 2016
Fiscal Year
2016
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
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