ADNOC Gas has reported net income of $1.34bn for the third quarter of 2025 (Q3 2025), its highest-ever third-quarter net income figure and an increase of 8% compared to the same period last year.
The company’s year-to-date net income stood at $3.99bn, a 10% increase over the previous year.
This was achieved despite a decline in average oil prices from $83 per barrel (bbl) in 2024 to $71/bbl in the first nine months of 2025.
The company’s revenues for Q3 stood at $5.9bn, a 6% decrease compared to $6.2bn for the same period last year.
For the first nine months of 2025, revenue was $17.9bn, a 2% decline compared to $18.3bn in the same period last year.
ADNOC Gas’ domestic gas business delivered earnings before interest, taxes, depreciation and amortisation (EBITDA) of $914m for Q3 2025, a 26% increase compared to the same period a year ago.
The company saw its domestic gas sales volumes grow by 4% during the first nine months of the year.
This growth has been attributed primarily to the strength of the United Arab Emirates (UAE) economy, along with improved underlying margins after undertaking structural improvements from contract renegotiation.
The International Monetary Fund (IMF) has forecasted economic growth of 4.8% for the UAE in 2025 and 5% in 2026.
The company stated that its operating cash flow remains substantial, enabling the funding of both expanding capital projects and increased dividend payments, without incurring additional debt.
To enhance shareholder value, the company will begin distributing quarterly dividends, starting in Q3 2025.
The inaugural interim Q3 2025 dividend of $896m will be paid by 12 December 2025.
The ADNOC Gas Board of Directors also approved a 5% annual increase in dividend payouts, with this policy extended through to 2030.
ADNOC Gas CEO Fatema Al Nuaimi said: “Our record Q3 results, and strong year-to-date performance, are a testament to the resilience and adaptability of our business model. Our profitability continues to grow, even while oil prices are down.
“Despite a lower oil price environment, we continue to deliver robust returns, underpinned by operational excellence and improved commercial agreements.
“Our enhanced dividend policy with quarterly distribution further demonstrates our commitment to maximising value for our shareholders.”
