Taqa says not in talks to sell oil and gas assets

Reports said Taqa was considering whether to sell its overseas oil and gas assets to another Abu Dhabi state-owned entity

Taqa has multiple assets in Europe and North America, besides the Middle East.
Taqa has multiple assets in Europe and North America, besides the Middle East.

The Abu Dhabi National Energy Co (Taqa) has denied media reports that said it was in talks with an Abu Dhabi-based entity to sell its oil and gas assets abroad.

The brief statement to Abu Dhabi's stock exchange did not elaborate.

Reuters last week reported that Taqa was considering whether to sell its overseas oil and gas assets to another Abu Dhabi state-owned entity. Taqa had declined to comment on the story.

According to Taqa's 2015 annual report, the company has an agreement with a ‘related party’ under which, at the request of Taqa, that party would buy all its oil and gas assets in North America and Atrush in Iraqi Kurdistan, plus most of its assets in Europe, at an agreed price.

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