TAQA initiates a strategic review of its oil and gas operations

Abu Dhabi National Energy Company, TAQA, one of the largest listed integrated utility companies in the region, said it has initiated a strategic review of its oil and gas operations. 

The review will assess "strategic" options for the oil and gas division, while taking into consideration the evolution of the global energy industry as it transitions towards a cleaner and more sustainable future, the company said.

"All options will be considered, including the sale of some or all the assets, or the retention and development of the assets within the TAQA Group," said the company in a statement.

TAQA's portfolio includes onshore and offshore exploration, development and production of crude oil, natural gas and natural gas liquids; gas storage; and oil & gas processing and transportation.