Order book expanding across the UAE as it plans independent oil strategy after Opec exit
Energy
May 11, 2026
Record first-quarter revenue and net profit was driven by high fleet activity, disciplined execution and long-term contracts boosted performance resilience.
Net profit rose more than 1 per cent to $344.8 million, aided by lower interest costs from faster collections and October refinancing.
Revenue increased nearly 5 per cent to more than $1.2 billion, offset partly by a $40 million onshore rig repurposing impact.
Company on track to hit target of adding up to 70 new service stations this year
Higher shipping rates help offset decline in revenue due to Strait of Hormuz closure
The drilling unit says the expansion took place in the UAE's onshore unconventional basins as Adnoc looks to boost production…
Company's services uninterrupted despite Iran conflict
The company, hardest hit among Adnoc subsidiaries, including suffering significant damage at its Habshan gas complex, has revised…
Company says effect of Hormuz closure to affect second-quarter net income
