ADNOC Gas announced today, Thursday, a 32 percent increase in its preliminary unaudited core profits for 2022, supported by an improved pricing environment, strong market conditions, and an increase in sales volume. The Abu Dhabi National Oil Company (ADNOC) raised $2.5 billion this month by selling a five percent stake in ADNOC Gas to investors through an initial public offering. ADNOC Gas disclosed in a stock exchange filing that the company’s unaudited adjusted profits for last year reached $8.7 billion, up from $6.6 billion in 2021. ADNOC Gas commenced its operations on January 1 by merging ADNOC Gas Processing, ADNOC LNG, and ADNOC Industrial Gases.
ADNOC Gas Records Increase in Annual Profits
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