Adnoc Q2 net gas earnings 2.44B dirhams
AdNOC Gas announced a net profit of 2.44 billion dirhams ($665 million) for the second quarter of 2026, surpassing the guided range of 1.47 to 2.20 billion dirhams, despite facing exceptional external challenges. The company strengthened its long-term strategy by making two final investment decisions and awarding two contracts for expansion projects in rich gas development, aiming to increase the targeted profit before interest, taxes, depreciation, and amortization (EBITDA) growth to 60% by 2030, with an investment estimated at 102.83 billion dirhams from 2026 to 2030. Additionally, it awarded two contracts totaling 30.11 billion dirhams to enhance gas processing capabilities and expand production. The company continues to implement major projects aimed at supporting energy security and increasing exports, incorporating artificial intelligence technologies to enhance efficiency and safety. Quarterly dividends of 3.45 billion dirhams were distributed, along with immediate responses to security incidents at the Habshan complex, with most recovery operations completed after the incidents.
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