ADNOC Gas achieved a 3% increase in net profit after tax to $5.16 billion in 2025 compared to $5 billion in 2024.

The earnings per share (EPS) rose to $0.067 in 2025 from $0.65 a year earlier, according to the preliminary financial results.

Meanwhile, ADNOC Gas revenue declined by 4% to $23.47 billion in 2025 from $24.42 billion during January-December 2024.

The total assets soared to $32.46 billion as of 31 December 2025 when compared to $30.82 billion at the end of 2024.

The CEO of ADNOC Gas, Fatema Al Nuaimi, said: “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.”

Al Nuaimi added: “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.”

Fourth Quarter Results

In the fourth quarter (Q4) of 2025, ADNOC Gas posted a 15% annual decrease in net profit to $1.17 billion from $1.38 billion.

The revenue also shrank by 10% to $5.48 billion in Q4-25 from $6.06 billion in Q4-24.

On a quarterly basis, the net income of ADNOC Gas in Q4-25 was 12% lower than $1.33 billion in Q3-25 and the revenue declined by 8% from $5.93 billion.

Dividends Policy

The board members of the UAE giant recommended a cash dividend payout of $895.93 million, equivalent to AED 3.29 billion or 4.287 fils per share, for Q4-25. This proposal is yet subject to the shareholders’ approval in the upcoming general assembly meeting.

For the year 2025, ADNOC Gas confirms its dividend of $3.58 billion, of which an interim cash dividend of $1.79 billion was paid in September 2025, a quarterly dividend of $896 million paid in December 2025, and the Q4-25 final dividend that is expected to be paid in April 2026.

The 2025 dividend is in line with the company’s robust policy to increase the annual dividend by 5% annually while reflecting its strong free cash flow, which exceeds the dividend commitment by over $500 million.

Outlook for 2026

ADNOC Gas stated that the company expects total sales volumes to be between 3,705 and 3,825 TBTU in 2026, elaborating that as with prior years, sales volumes should follow a seasonal pattern with an uptick over the summer period.

The company noted: “In 2026 our shutdown activity should return to normal levels. In terms of net profit unit margins, we anticipate Domestic Gas Products to be slightly below 2025 as we do not include gas-to-electron sales in our forward-looking guidance as they only occur because of successful tendering processes.”

For Export and Traded Liquids and ALNG JV products, ADNOC Gas said: “Our guidance ranges are based upon a Brent price band of $60 - 65/bbl. While these products are typically closely correlated with Brent it is important to remember that, from time to time, individual product prices may decouple from oil prices in line with the prevailing supply demand evolution of the respective markets. In addition, Sulphur is expected to generate a further $250 - 300 million net income.”

Meanwhile, the total investments of the UAE-listed company are expected to fall between $4 billion and $4.50 billion.

ADNOC Gas further added that it remains well positioned to capture continued domestic demand growth beyond 2026, supported by strategic infrastructure investments, including the ADNOC Estidama gas pipeline project, which will expand access to the Northern Emirates and reinforce the UAE’s long-term objective of achieving gas self-sufficiency.

The company elaborated: “The Final Investment Decision (FID) for phases two and three of the Rich Gas Development (RGD) project is anticipated in Q1-26. This expansion, benefiting from the growth of ADNOC’s upstream operations, is one of the critical projects to enable ADNOC Gas by 2029 to expand its overall capacity by 30%.”

The company confirms that as global demand for gas continues to grow, ADNOC Gas is investing with confidence to support the UAE’s energy security whilst growing its international markets.

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