Abu Dhabi National Oil Company’s (Adnoc) listed companies delivered strong first quarter 2026 results, posting combined revenues of $11.8 billion, EBITDA of $3.7 billion and a net profit of $2.2 billion, despite heightened market volatility and disruptions in the Strait of Hormuz.

The performance underscored the resilience of Adnoc’s integrated energy and industrial portfolio, with companies maintaining uninterrupted supply across domestic and international markets through contingency planning and operational coordination.

Adnoc Gas led earnings with net income of $1.1 billion on revenues of $5 billion, while EBITDA reached $1.8 billion.

 The company also approved a $941 million dividend and maintained its target of more than 40 per cent EBITDA growth between 2023 and 2029.

Adnoc Distribution posted record Q1 EBITDA of $307 million, up 12 per cent year-on-year, while net profit rose 21 per cent to $210 million.

Fuel volumes reached a quarterly high of 3.82 billion litres.

Adnoc Drilling reported record revenues of $1.23 billion and net profit of $347 million, supported by high fleet utilisation and long-term contracts.

Adnoc Logistics and Services achieved 20 per cent profit growth to $222 million as strong shipping rates offset maritime disruptions. 

Borouge recorded revenues of $1.2 billion, maintaining production at 98 per cent of capacity despite logistics challenges.

Fertiglobe delivered one of the strongest growth performances, with revenues surging 32 per cent to $915 million and net profit nearly doubling to $145 million amid robust nitrogen market conditions.