ADNOC Gas Hits Record $5.2B Profit, Defying Oil Price Slump

ABU DHABI, UAE – February 09, 2026

ADNOC Gas plc announced a record-setting net income of $5.2 billion for the 2025 fiscal year, marking a 3% increase over the previous year and demonstrating remarkable financial resilience in a challenging energy market. The achievement is particularly noteworthy as it comes against the backdrop of a 14% year-on-year drop in average Brent crude oil prices, which hovered around $69 per barrel for the year.

The robust performance, underpinned by a strong domestic market and strategic efficiencies, allowed the company's board to endorse a substantial $3.6 billion dividend for 2025, reinforcing its commitment to delivering shareholder value. The results underscore a successful strategy that has insulated the gas giant from the full impact of commodity price volatility, positioning it for sustained growth both domestically and internationally.

A Resilient Model in a Volatile Market

ADNOC Gas's ability to grow its bottom line while its full-year revenue saw a modest 4% decline to $23.5 billion highlights significant gains in operational efficiency and margin improvement. The primary engine behind this success was the company's domestic gas business, which saw its earnings before interest, tax, depreciation, and amortization (EBITDA) climb by an impressive 10% year-on-year. This growth was fueled by a 4% rise in domestic sales volumes and enhanced commercial terms, showcasing the stable and growing demand within the UAE.

While the full-year figures were strong, the company's fourth-quarter results reflected the broader market pressures, with a net income of $1.2 billion, a 15% decrease from the same period in 2024, due to softer pricing in export markets. However, sales volumes in Q4 still increased by 5% compared to the previous year, driven again by consistent domestic demand from the UAE's robust industrial sector, which helped the nation's GDP grow by an estimated 4.8% in 2025.

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, commented on the performance, stating, "2025 was a defining year for ADNOC Gas. We delivered record earnings while investing in growth, demonstrating that our business is resilient, scalable, and globally relevant. As demand for reliable delivery of gas continues to expand, ADNOC Gas is strategically positioned to serve both the UAE and international markets with confidence and discipline."

Fueling Future Growth with Massive Capital Investment

Looking ahead, ADNOC Gas is not resting on its laurels. The company has embarked on an aggressive expansion plan, nearly doubling its capital expenditure in 2025 to $3.6 billion, a 98% increase from the previous year. This surge in investment is directed towards several major infrastructure projects designed to significantly boost its production and processing capacity.

Central to this strategy are the next phases of the Rich Gas Development (RGD) project. The company targets making Final Investment Decisions (FID) for phases two and three in the first quarter of 2026, with an anticipated capital expenditure exceeding $4 billion. This follows the launch of the $5 billion RGD phase one in 2025, which is already expanding domestic gas processing and increasing the output of valuable export-traded liquids.

Alongside the RGD expansion, work is advancing on the ADNOC Estidama gas pipeline project. This critical infrastructure aims to enhance gas access for industrial and utility customers in the UAE's Northern Emirates, further integrating the national energy grid. Collectively, these strategic investments are set to expand ADNOC Gas's overall capacity by a remarkable 30% by 2029, cementing its role as a cornerstone of the nation's energy landscape.

Powering the UAE's Economic Engine

The strategic investments by ADNOC Gas are intrinsically linked to the UAE's long-term national objectives of achieving gas self-sufficiency and diversifying its economy. As the supplier of approximately 60% of the UAE's sales gas needs and a key power provider for two-thirds of its industrial sector, the company's growth is a direct catalyst for the nation's industrial ambitions.

By expanding the gas supply to the Northern Emirates, the Estidama project will unlock new opportunities for industrial development and ensure a stable energy supply for a growing population and economy. Natural gas is viewed as a critical enabler for the UAE's Net-Zero by 2050 strategic initiative, serving as a transitional fuel that provides the stable, dispatchable power needed to reliably integrate intermittent renewable sources like solar into the grid. The company’s efforts are a pillar of the UAE's long-term energy security and its vision for a sustainable and prosperous future.

Delivering Shareholder Value and Expanding Global Reach

For investors, ADNOC Gas continues to present an attractive combination of growth and yield. The company confirmed its 2025 dividend of $3.584 billion, in line with a progressive policy to increase the annual dividend by 5% through 2027. This commitment is backed by a robust balance sheet, with free cash flow in 2025 exceeding the dividend commitment by over $500 million. In a move to enhance shareholder returns, the company also began distributing dividends on a quarterly basis in late 2025.

While fortifying its domestic position, ADNOC Gas has also aggressively expanded its international footprint. In a global market where buyers are prioritizing supply security and diversification away from geopolitical hotspots, the UAE's reputation as a reliable energy partner has proven invaluable. Over the last 24 months, the company has secured an impressive $20 billion worth of long-term LNG contracts.

A landmark 10-year, $3 billion deal with India's Hindustan Petroleum Corporation Limited has positioned India as the UAE's largest LNG customer, highlighting a strategic pivot towards high-growth Asian markets. This export success comes as global LNG demand continues to hit new records, driven by Europe's need to replace Russian pipeline gas. By investing with confidence to serve both domestic needs and growing international demand, ADNOC Gas is solidifying its role as a key player in the evolving global energy map.