Company Insights Adnoc Distribution Oil & Gas Adnoc Distribution News Renewable Energy Adnoc opens region’s first green hydrogen refuelling station UAE’s oil major Adnoc has opened the region’s first high-speed green hydrogen pilot refuelling station to test a fleet of zero-emission hydrogen-powered vehicles. The “H2GO” station in Masdar City, operated by Adnoc Distribution, will generate green hydrogen from water using an electrolyser powered by clean grid electricity, the company said in a statement. The hydrogen […] November 26, 2023 Retail Adnoc Distribution reports 9% quarterly profit rise Adnoc Distribution’s third-quarter net profit rose 9 percent year on year, boosted by double-digit growth in fuel volumes and non-fuel business, the company said in a results announcement this week. The UAE’s largest fuel and convenience retailer, listed on the Abu Dhabi Securities Exchange, reported a net profit of AED835 million ($227 million) and a […] November 10, 2023 Retail Adnoc to expand its branded service stations across Egypt Adnoc Distribution, a subsidiary of state-owned Abu Dhabi National Oil Company, plans to open six new service stations in Egypt by the end of the year. The UAE company announced the opening of three Adnoc branded service stations on Saturday after acquiring a 50 percent stake in TotalEnergies Marketing Egypt earlier this year. The newly opened […] September 25, 2023 Analysis Transport Electric car sales on the charge due to UAE policy The UAE is forecast to encounter a 32 percent increase in sales of passenger electric vehicles this year as the government launches a national policy to support the sector’s growth. Sales are expected to reach almost 22,000, up from an estimated 16,442 in 2022. Longer-term calculations suggest the total number of EVs will exceed 370,000 […] August 2, 2023 Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023 Banking & Finance Adnoc lines up another unit for Abu Dhabi listing Abu Dhabi National Oil Co (Adnoc) plans to launch an initial public offering of its maritime and logistics unit in June, Reuters reported, in what will be the government-owned conglomerate’s latest flotation of an ancillary business. Adnoc’s part-privatisation drive began in 2017. It has sold minor stakes in subsidiaries Adnoc Drilling, Adnoc Gas, Adnoc Distribution, […] March 24, 2023 Markets Profits of 123 Emirates-listed companies at $52bn in 2022 The net earnings of 123 UAE-listed companies reached AED191 billion ($52 billion) in 2022, indicating their strong financial position and healthy revenue growth. The net profits of listed firms increased by 60 percent, or AED72 billion, last year, according to a state-owned Emirates News Agency (WAM) report. Out of the total earnings, nearly 77 companies […] February 20, 2023 Adnoc Distribution ready to explore Egypt after Total purchase Adnoc Distribution is expanding its fuel retail business to Egypt after buying a 50 percent share in local operator TotalEnergies. The subsidiary of Abu Dhabi National Oil Company said on Wednesday that it had completed the purchase of the stake from TotalEnergies Marketing Afrique. The agreement includes a portfolio of 240 service stations, 100-plus convenience […] February 15, 2023 Energy Adnoc Distribution’s net profit rises 22% to $749m in 2022 Adnoc Distribution, the UAE’s fuel and convenience retailer, reported strong earnings for 2022, with net profit rising 22 percent year-on-year to AED 2.75 billion ($748.69 million). The company’s total fuel volumes continued to increase last year, recording an eight percent year-on-year growth in 2022, with commercial fuel volumes up by 19 percent. Among the key factors […] February 9, 2023 Energy Adnoc Distribution Q3 2022 profit rises 45% to $209m UAE fuel and convenience retailer Adnoc Distribution saw net profit rose 45 percent year-on-year to AED 767 million ($208.82 million) in the third quarter of 2022 and 39 percent year-on-year to AED 2.33 billion in the first nine months of 2022, the company said in a statement. The Abu Dhabi-listed company saw a year-on-year rise of […] November 11, 2022 Posts navigation Previous 1 2 3 Next
Renewable Energy Adnoc opens region’s first green hydrogen refuelling station UAE’s oil major Adnoc has opened the region’s first high-speed green hydrogen pilot refuelling station to test a fleet of zero-emission hydrogen-powered vehicles. The “H2GO” station in Masdar City, operated by Adnoc Distribution, will generate green hydrogen from water using an electrolyser powered by clean grid electricity, the company said in a statement. The hydrogen […] November 26, 2023
Retail Adnoc Distribution reports 9% quarterly profit rise Adnoc Distribution’s third-quarter net profit rose 9 percent year on year, boosted by double-digit growth in fuel volumes and non-fuel business, the company said in a results announcement this week. The UAE’s largest fuel and convenience retailer, listed on the Abu Dhabi Securities Exchange, reported a net profit of AED835 million ($227 million) and a […] November 10, 2023
Retail Adnoc to expand its branded service stations across Egypt Adnoc Distribution, a subsidiary of state-owned Abu Dhabi National Oil Company, plans to open six new service stations in Egypt by the end of the year. The UAE company announced the opening of three Adnoc branded service stations on Saturday after acquiring a 50 percent stake in TotalEnergies Marketing Egypt earlier this year. The newly opened […] September 25, 2023
Analysis Transport Electric car sales on the charge due to UAE policy The UAE is forecast to encounter a 32 percent increase in sales of passenger electric vehicles this year as the government launches a national policy to support the sector’s growth. Sales are expected to reach almost 22,000, up from an estimated 16,442 in 2022. Longer-term calculations suggest the total number of EVs will exceed 370,000 […] August 2, 2023
Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023
Banking & Finance Adnoc lines up another unit for Abu Dhabi listing Abu Dhabi National Oil Co (Adnoc) plans to launch an initial public offering of its maritime and logistics unit in June, Reuters reported, in what will be the government-owned conglomerate’s latest flotation of an ancillary business. Adnoc’s part-privatisation drive began in 2017. It has sold minor stakes in subsidiaries Adnoc Drilling, Adnoc Gas, Adnoc Distribution, […] March 24, 2023
Markets Profits of 123 Emirates-listed companies at $52bn in 2022 The net earnings of 123 UAE-listed companies reached AED191 billion ($52 billion) in 2022, indicating their strong financial position and healthy revenue growth. The net profits of listed firms increased by 60 percent, or AED72 billion, last year, according to a state-owned Emirates News Agency (WAM) report. Out of the total earnings, nearly 77 companies […] February 20, 2023
Adnoc Distribution ready to explore Egypt after Total purchase Adnoc Distribution is expanding its fuel retail business to Egypt after buying a 50 percent share in local operator TotalEnergies. The subsidiary of Abu Dhabi National Oil Company said on Wednesday that it had completed the purchase of the stake from TotalEnergies Marketing Afrique. The agreement includes a portfolio of 240 service stations, 100-plus convenience […] February 15, 2023
Energy Adnoc Distribution’s net profit rises 22% to $749m in 2022 Adnoc Distribution, the UAE’s fuel and convenience retailer, reported strong earnings for 2022, with net profit rising 22 percent year-on-year to AED 2.75 billion ($748.69 million). The company’s total fuel volumes continued to increase last year, recording an eight percent year-on-year growth in 2022, with commercial fuel volumes up by 19 percent. Among the key factors […] February 9, 2023
Energy Adnoc Distribution Q3 2022 profit rises 45% to $209m UAE fuel and convenience retailer Adnoc Distribution saw net profit rose 45 percent year-on-year to AED 767 million ($208.82 million) in the third quarter of 2022 and 39 percent year-on-year to AED 2.33 billion in the first nine months of 2022, the company said in a statement. The Abu Dhabi-listed company saw a year-on-year rise of […] November 11, 2022
