Abu Dhabi National Energy (TAQA) is looking at options for its oil and gas assets, Bloomberg reported, which could include a potential sale.
According to anonymous sources, the company’s oil and gas portfolio could be worth much less money than TAQA spent to build those assets.
The company has not made a final decision on the potential sale, which might not proceed, according to Bloomberg’s sources. TAQA is reportedly speaking with potential advisers to review its oil and gas business.
Meanwhile, the company agreed to sell shares to Abu Dhabi Power Corporation, a UAE government-owned holding company, in return for assets which have helped it boost its power generation portfolio.
