Tag: UAE

Energy, Oil & Gas

ADNOC Gas records robust growth in Q2; net income hits $665m

ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company, has delivered solid results for the second quarter with a net income of $665 million, above the guidance range of $400-600 million, thus reflecting strong operational performance in a challenging operating environment. ...

Energy, Oil & Gas

Al Mazrui joins Petrofac Emirates as strategic shareholder

Petrofac has announced that Al Mazrui International has completed its investment in Petrofac HoldCo Limited, the holding company of Petrofac Emirates, becoming a strategic investor alongside the company’s existing shareholder group....

Energy, Oil & Gas

Adnoc Distribution H1 net profit jumps 59pc to $568m

Adnoc Distribution reported record financial results for the first half of 2026, posting a 59 per cent year-on-year increase in net profit to $568 million, while reported EBITDA rose 39 per cent to $786 million....

Energy, Oil & Gas

Borouge posts 23pc jump in Q2 profit, maintains dividend outlook

Borouge, an Abu Dhabi–based petrochemicals company, reported a 23 per cent quarter-on-quarter increase in net profit to $191 million in the second quarter of 2026, up from $156 million in the first quarter, supported by sales volumes of 0.9 million tonnes and stronger product pricing....

Energy, Oil & Gas

Adnoc updates crude pricing methodology

Abu Dhabi National Oil Company (Adnoc) has announced changes to the Official Selling Price (OSP) methodology for its Abu Dhabi crude grades following a routine commercial review. The new pricing mechanism will take effect on November 1, 2026....

Energy, Oil & Gas

Taqa launches $750m blue bond to fund sustainable water infrastructure

Taqa, Abu Dhabi National Energy Company, has issued a $750 million Blue Bond to support sustainable water and wastewater management projects, marking the largest Blue Bond ever issued by an integrated power and water utility and the biggest in the Europe, Middle East and Africa (EMEA) region....

Energy, Oil & Gas

Adnoc Drilling Posts $706m H1 profit, reaffirms 2026 guidance

Adnoc Drilling posted record second-quarter and first-half 2026 results, with first-half revenue rising 4 per cent to $2.46 billion and net profit increasing 2 per cent to $706 million, supported by strong operational performance and cash generation. ...

Energy, Oil & Gas

CB&I secures offshore well engineering deal in Abu Dhabi

CB&I’s Asset Solutions business has secured a well engineering services contract with Cosmo E&P Albahriya to support drilling, planning and operational activities for Offshore Block 4 in Abu Dhabi, strengthening its UAE presence. ...

Energy, Oil & Gas

NMDC Energy revenue rises 16pc to $2.6bn in H1 2026

NMDC Energy, an Abu Dhabi-based engineering, procurement, and construction (EPC) services company, reported a strong first half of 2026, with revenue rising 16 per cent year on year to AED9.5 billion ($2.6 billion), driven by diversified growth across its UAE operations and international EPC projects....

Energy, Oil & Gas

Applus+ begins offshore rig operations in Somalia

Applus+ UAE has begun rig service operations in Somalia, supporting an offshore drilling exploration programme. The company is providing testing, inspection, and certification services to ensure equipment integrity, compliance, and operational readiness in a remote offshore environment....

Energy, Oil & Gas

Deep Well Services completes first UAE well deployment

Enersol’s portfolio company Deep Well Services (DWS) has completed its first well in the UAE, marking the company’s first deployment in the country and the wider Middle East region. The operation used DWS’ Hydraulic Completion Unit (HCU) technology and achieved planned first-well performance targets....

Energy, Oil & Gas

UAE’s Global South Utilities signs energy MoU with Guyana

UAE-based Global South Utilities (GSU) has signed an MoU with Guyana Power and Light to explore energy infrastructure projects, including power generation, grid modernisation and renewable energy integration to support Guyana’s sustainable development....

Energy, Oil & Gas

Ewec opens registration for 20th Clean Energy Certificates auction

Emirates Water and Electricity Company (Ewec) has opened registration for its 20th Clean Energy Certificates (CECs) auction, supporting organisations in verifying their renewable and clean energy consumption as part of the UAE’s energy transition....