ADNOC Gas plc reported net income of USD 1.1 billion for Q1 2026, demonstrating financial resilience despite significant operational headwinds, including maritime disruptions through the Strait of Hormuz and two security incidents at its Habshan processing facility in April.
The company generated USD 572 million in free cash flow and closed the quarter with USD 4.2 billion in cash, enabling the Board to approve a quarterly dividend of USD 941 million, payable in June 2026.
Following the Habshan incidents, 60% of processing capacity has been restored, with 80% targeted by year-end and full restoration expected in 2027. ADNOC Gas' EBITDA growth target of over 40% between 2023 and 2029 remains unchanged.
Gulf Economist Staff Writer