Oil & Gas Taqa profit falls as oil and gas earnings take a hit By Pramod Kumar May 15, 2025, 12:27 PM Taqa Revenues of the oil and gas segment were down 26 percent annually to AED1.5 billion Net profit down 1.5% Total revenue up 4% Taqa Transmission growth Abu Dhabi National Energy Company (Taqa) said earnings fell in the first quarter of 2025 amid commodity market volatility and a fall in oil and gas production. Net profit declined by 1.5 percent year on year to AED2 billion ($572 million) in the quarter ended March 31, 2025, the company said in a statement to the Abu Dhabi Securities Exchange on Thursday. Revenue rose 4 percent year-on-year to AED14.2 billion, primarily driven by the transmission and distribution (T&D) segment’s top line growing 12 percent year on year. However, the revenues of the oil and gas segment were down 26 percent annually to AED1.5 billion. Abu Dhabi’s Taqa buys UK’s Transmission Investment Taqa in talks to buy stake in Spanish utility Naturgy Taqa among suitors for Germany’s $10bn Uniper In the first quarter, Taqa Transmission expanded globally, acquiring Transmission Investment, a UK-based energy and utility investment platform. Taqa expanded its global renewables portfolio as its 43-percent-owned Masar acquired a stake in Spanish renewables. Additionally, the company is developing a giga-scale ‘round-the-clock’ renewables project in Abu Dhabi, combining 5.2 gigawatt (GW) of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean energy. Taqa shares closed 0.3 percent lower at AED3.14 on Wednesday. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
