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ADNOC
Energy
Abu Dhabi’s ADNOC Gas shareholders approve $3.25 billion dividend for 2023
Company plans to invest over $13 billion between 2024 and 2029 in growth opportunities
Markets
UAE: Petrol, diesel prices for April 2024 announced
Petrol prices in the UAE have been rising from February onwards
Energy
UAE’s ADNOC Distribution revamps dividend policy, commits to $700 million or 75 percent of net profit until 2028
The company also reiterated dedication to 5-year growth strategy, encompassing AI, digitalization, and cutting-edge tech
Energy
UAE’s ADNOC starts crude oil extraction from Belbazem offshore block
Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas
Sustainability
UAE commits to reducing carbon emissions under new national policy on biofuels
Strategic approval reinforces commitment to clean energy and climate action objectives
Energy
Egypt’s Modern Gas to develop $533K subsidiary in Saudi Arabia
Modern Gas generated revenues of $55.2 million in 2023
Energy
ADNOC signs 15-year LNG supply deal with German energy firm
Strategic deal reinforces ADNOC's role in global energy transition
Energy
ADNOC Drilling shareholders set to receive $358 million as H2-2023 dividend
The dividend will be paid to all record shareholders as of March 21, 2024, on or around April 3, 2024
Sustainability
ADNOC generates $500 million value, reduces 1 million tons CO2 by deploying AI across value chain
The company’s AI integration is driving net-zero emissions and methane reduction goals
Banking & Finance
UAE’s ADNOC acquires 24.9 percent stake in Austria’s OMV
The transaction has increased UAE firm’s shareholdings in Borealis and Borouge
Sustainability
ADNOC recognized as top NOC investor in low-carbon solutions: Report
The company was also ranked 5th largest investor in the industry in 2023
Energy
ADNOC Distribution aims for 20 percent expansion in service stations in its new 5-year growth strategy
The company will allocate $250-$300 million annually for CAPEX
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