By: AGBI

Abu Dhabi National Energy Company (Taqa) increased capital expenditure (capex) in the first half of 2026, driven mainly by new investments in oil and gas, as well as its water and power generation, transmission and distribution businesses.

Capital expenditure in the oil and gas segment rose 17 percent year on year to AED409 million ($111 million) in the first six months of 2026, mainly due to investment in new gas processing infrastructure in Canada, the company said in a statement to the Abu Dhabi Securities Exchange.

The project is expected to be commissioned next year.

Total capital expenditure increased by 38 percent to AED7.2 billion ($2 billion) between January and June.

Revenue fell 3 percent, driven by lower income in the distribution segment and lower oil and gas production.

Net income attributable rose 10 percent, supported by the utilities businesses, which offset lower oil and gas earnings following the planned decommissioning of UK North Sea assets.

The Taqa board approved an interim dividend of AED899 million for the second quarter.

State-run Abu Dhabi Power Corporation owns 98 percent of Taqa.

Its share price of AED2.66 is down about a fifth year to date.