UAE’s Taqa expects output decline on spending cut

摘要

Dubai—Abu Dhabi National Energy Co. (Taqa) expects its oil and gas output to decline further over the course of the year as the company continues to eye spending cuts given the low oil price environment. Taqa already saw its production fall by 5% year on year to 150,000 b/d of oil equivalent in the first half of 2015 as the global oil price plunge triggered a cut in capital spending.