The boss of Taqa’s North Sea business has predicted a “challenging year” ahead as the Abu-Dhabi oil firm publishes its 2019 results.
Court documents have revealed emails between Taqa senior management, who described RockRose’s deal with Marathon Oil as their “worst fear”, calling the London-headquartered company “total wideboys”.
RockRose Energy has lost control of its only operated platforms in the UK North Sea after three partner companies raised “serious concerns” in court about its ability to run the assets.
Taqa’s North Sea operation remained “robust” in the first quarter of the year, despite the wider oil firm experiencing a heavy dip in profits.
A “natural decline” in production and unplanned outages halved earnings from Taqa’s European business in 2018.
Swedish power company Vattenfall has put its past financial woes behind it with pre-tax profits of 8.3billion Swedish krona (£775million) for the first half of 2017.
Step Change in Safety (SCiS) has appointed the acting managing director of TAQA as new co-chair of its leadership team.