Latest news with #AbuDhabiNationalOilCompany
The National
21 hours ago
- Business
- The National
Adnoc Drilling delivers record first half profit on revenue boost
Adnoc Drilling, the Middle East's biggest drilling company, has posted a 19 per cent jump in its second-quarter profit, pushing it to record gains in the first half and putting it on pace to hit its full-year targets. Net profit in the three months to the end of June rose to $351 million, the Abu Dhabi National Oil Company unit said on Wednesday in a filing to the Abu Dhabi Securities Exchange, where its shares trade. Revenue in the quarter leapt 28 per cent to nearly $1.2 billion, while earnings before interest, taxes, depreciation and amortisation, a key metric of profitability, gained 15 per cent to $545 million. Those resulted in a record first half for Adnoc Drilling, as profit climbed 21 per cent to $602 million. Revenue in the six-month period surged 30 per cent to About $2.37 billion, while Ebitda grew 19 per cent to almost $1.1 billion. The company's board of directors approved a dividend of $217 million, or about Dh0.05 per share for the second quarter. 'Our record first half 2025 results once again demonstrate the strength, resilience and scaleability of Adnoc Drilling ... with this momentum, we are firmly on track to achieving our full-year growth targets," said Abdulla Al Messabi, chief executive of Adnoc Drilling.
Yemen Online
16-07-2025
- Business
- Yemen Online
Adnoc to transfer OMV shares to its international investment arm
Abu Dhabi National Oil Company (Adnoc) is set to transfer its 24.9% shareholding in Austrian energy player OMV to XRG, Adnoc's wholly owned international investment company. The transfer is subject to regulatory approvals and is 'aligned with Adnoc's strategy to consolidate its international growth investments under XRG,' Adnoc said in a statement on Wednesday.
Arabian Post
15-07-2025
- Business
- Arabian Post
ADNOC Gas Seals AED 1.5 Billion LNG Deal with SEFE
Abu Dhabi National Oil Company's subsidiary ADNOC Gas Plc has signed a three‑year agreement to deliver 0.7 million tonnes of liquefied natural gas to Germany's state‑owned SEFE Securing Energy for Europe. Valued at AED 1.5 billion, the contract begins this summer and sees LNG shipped from the Das Island facility. The arrangement builds upon a long‑term contract established last year between the two companies, offering SEFE greater flexibility to dispatch the volumes across multiple European markets. For ADNOC Gas, it underscores ambitions to broaden its global LNG footprint and strengthen ties with European partners. Das Island's liquefaction plant, with a 6 million tonnes per annum capacity and over 3,500 cargoes dispatched since 1977, remains a key strategic asset in ADNOC Gas's export network. ADVERTISEMENT The step aligns with SEFE's drive to diversify energy sources following the loss of the majority of its Russian gas imports in 2022. With an annual obligation of around 200 TWh across Germany, the UK and other markets, the company has pursued deals with Azerbaijan's SOCAR and US firms such as Venture Global. The new agreement also resonates with diplomatic frameworks like the UAE‑Germany Energy Security and Industry Accelerator, signed in 2022, and a 2024 joint declaration with Baden‑Württemberg, enhancing the energy security and transition agenda. Fatema Al Nuaimi, CEO of ADNOC Gas, stressed the deal's importance for bolstering Europe's supply security and underlined the company's evolution as a reliable global energy provider, signalling continued strategic progress. SEFE's Chief Commercial Officer Frédéric Barnaud noted that the medium‑term contract complements the prior long‑term deal with ADNOC, reinforcing their two‑decade‑long partnership and enhancing SEFE's flexible supply model amid market volatility. Analysts view the contract as mutually beneficial: for Europe, it secures diversified gas supplies beyond pipeline dependency; for ADNOC Gas, it consolidates its role in the global LNG market ahead of its Ruwais LNG project, which aims to double its export capacity by 2028. Europe's LNG demand remains structurally high as governments accelerate energy transition strategies and phase out coal and Russian pipeline imports. Germany has fast‑tracked floating regasification terminals to absorb increasing LNG volumes, aligning infrastructure with new supply agreements. With the first shipments slated for summer and SEFE retaining destination choice, market observers expect swift integration into Europe's gas supply chain. ADNOC Gas is concurrently investing in technology upgrades, including AI‑powered optimisation at Das Island, building on its reputation for operational efficiency. As Germany speeds its transition away from Russian energy, this contract signifies more than a commercial transaction: it marks a strategic pivot in global LNG trade, with the UAE emerging as an alternative anchor supplier to European markets.
AU Financial Review
10-07-2025
- Business
- AU Financial Review
Everything you need to know about Santos' deep-pocketed suitor
With the Abu Dhabi-led $36.4 billion takeover offer for Santos needing a tick from Treasurer Jim Chalmers, there are questions being asked about the main player in the deal, XRG. The little-known reincarnation of Abu Dhabi National Oil Company's international arm will have the ruler run over it as the Foreign Investment Review Board decides whether the bidding group it leads can buy Australia's second-biggest oil and gas company.
Business Recorder
03-07-2025
- Business
- Business Recorder
ADNOC restores most Murban oil supply to equity holders in July, sources say
SINGAPORE: Abu Dhabi National Oil Company (ADNOC) has restored most of the Murban crude oil supply going to equity holders in July after making a sharp cut earlier, multiple trade sources said on Thursday. During the Israel-Iran conflict last month, ADNOC notified equity holders that it would cut their Murban crude supply by 3 million to 4 million barrels in July, the sources said. Most of these volumes have since been restored, they said. ADNOC did not immediately respond to a request for comment. It was not immediately clear what led to these changes. ADNOC makes first trades during Platts Dubai oil pricing process, traders say Partners in ADNOC Onshore, the subsidiary which produces Murban crude, include BP, TotalEnergies, China National Petroleum Corp (CNPC), Inpex, Zhenhua Oil, and South Korea's GS Energy. Equity holders are entitled to about 40% of the flagship grade's production which stands at around 2.1 million barrels per day, traders said. Japan, Thailand and India are the biggest importers of Murban crude, Kpler data showed.
