Abu Dhabi power firm TAQA to sell upstream oil and gas business in Netherlands

Abu Dhabi power firm TAQA to sell upstream oil and gas business in Netherlands

Dubai: The Abu Dhabi utility giant TAQA will sell all of its upstream oil and gas business in the Netherlands. This followed a strategic review that looked at the company exiting what it deemed as non-core to its future growth strategy. It was early July that TAQA (or Abu Dhabi National Energy Co.) confirmed the completion of a ‘strategic review of oil and gas businesses’. The deal in the Netherlands was routed through a wholly-owned subsidiary, TAQA Energy BV. The buyer is Waldorf Energy Netherlands BV. TAQA has an extended operational footprint inside and outside of the UAE, including in North Africa. Recently, it took a strategic stake in Masdar as part of a wider deal with Mubadala, as the former seeks to build its interests in the renewable and clean energy space.