Abu Dhabi – Mubasher: Abu Dhabi National Energy Company's (TAQA) is nearing a deal to sell some light oil and natural gas-producing assets in Alberta and British Columbia to Blue Sky Resources, three sources told Reuters.

One of the sources said that TAQA has reached an agreement on the sale terms with Blue Sky, and the deal is now subject to approvals from the Alberta Energy Board.

The sources warned that the Alberta regulator could reject the deal.

"If and when any deal is finalized and approved by the relevant authorities, we will make an announcement in line with regulatory requirements," TAQA told Reuters.

If the deal is finalised, TAQA's sale of the assets would make the company the second-largest international oil company to cut its holdings in Canada in recent months.