Taqa Takes Ax to Capex

摘要

Abu Dhabi state-run international energy firm Taqa on Wednesday reported a loss of $820 million (3.01 billion dirham) last year -- net of an $899 million impairment charge due to lower commodity prices -- thus exceeding its net loss in 2013 of $656 million (2.52 billion dirham). To preserve cash, Taqa said it would cut capital expenditure in 2015 by 39%, or $680 million.