Adnoc Gas halves-year profit 6.4B dirhams
Adnoc Gas achieved a net profit of 6.4 billion dirhams in the first half of 2026, reflecting a 34% decrease compared to the same period last year. The company distributed quarterly dividends totaling 3.45 billion dirhams. It focused on executing its growth strategy by awarding two contracts worth a total of 30.11 billion dirhams for projects to expand gas processing capabilities in two phases of rich gas development. These efforts will support increased production and export of gas, enhancing energy security in the UAE. The company projected that its earnings before interest, taxes, depreciation, and amortization (EBITDA) could grow by 60% by 2030, with potential investments reaching up to 102.83 billion dirhams between 2026 and 2030. Despite shipping disruptions through the Strait of Hormuz, Adnoc Gas demonstrated resilience, having recovered 85% of the Shaban transmission. The company anticipates its net income for the third quarter to be between 2.20 and 2.94 billion dirhams, with expected annual revenues ranging from 12.85 to 14.69 billion dirhams if current conditions persist.
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