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ADNOC Drilling’s CEO on its strong H1 numbers and what’s next

CEO Abdulla Ateya Al Messabi talks record results, the shift from rig operator to technology-enabled energy services company, and why AI is ‘a performance story, not a technology story’

Neesha Salian
Neesha Salian

31 July, 2026

ADNOC Drilling’s CEO on its strong H1 numbers and what’s next
Image: Supplied

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A year into the top job, Abdulla Ateya Al Messabi keeps returning to one phrase: ADNOC Drilling does what it says it will do. The first-half 2026 results bear him out. The company posted record first-half revenue, up 4 per cent year-on-year to $2.46bn, and net profit rising 2 per cent to $706m, while sustaining an industry-leading return on equity of 34 per cent and declaring $525m in dividends over the six months.

But Al Messabi is keen to push the story beyond the headline figures. The business that listed in 2021 was, in the market’s eyes, a rig company. Today he describes something broader: a technology-enabled energy services company, with Oilfield Services as its growth engine, a widening onshore footprint across Oman and Kuwait through MBPS and SLDC, and platforms such as Enersol and Turnwell extending its reach across the well lifecycle.

The deployment of AD-300 — its first AI-enabled automated island rig, delivered ahead of schedule in June — is, he states, a signal of where the whole industry is heading.

Here, Al Messabi discusses the results, the transformation of the business, and how technology, regional expansion and unconventional development shape ADNOC Drilling’s next phase of growth.

ADNOC Drilling has reported record first-half revenue and profit. What is the main story behind these results?

The story is simple: ADNOC Drilling continues to do what it says it will do.

We delivered record revenue and profit, increased dividends and continued to grow the business. Our Oilfield Services business is expanding, our technology investments are delivering results, and our regional platform is creating new opportunities.

Most importantly, our people continue to execute safely and consistently every day. That’s what drives our performance and creates value for shareholders.

How did ADNOC Drilling perform during the period of regional uncertainty?

We remained safe, operational and focused throughout. There was no material impact on our business. Our customers depend on us to deliver, and that’s exactly what we did. The period reinforced the strength of our operating model and the dedication of our people.

How does this performance support the UAE’s broader energy security and growth objectives?

Everything starts with the well.

Whether it’s oil, gas or unconventional resources, you need to deliver wells safely, efficiently and at scale. That’s where ADNOC Drilling plays a critical role.

We are proud to support ADNOC and the UAE’s long-term energy ambitions through reliable execution and world-class capabilities.

ADNOC Drilling looks very different from the business that listed in 2021. How is the company evolving?

When we listed, many people saw ADNOC Drilling as a rig company. Today, we are building a technology-enabled energy services company.

We’re growing our Oilfield Services business, expanding regionally, investing in technology and creating new growth platforms through Enersol and Turnwell.

The goal is straightforward: create more value across the well lifecycle and build new avenues of growth for shareholders. This is a much broader business today than it was at IPO, and we’re just getting started.

Oilfield Services continues to be highlighted as a growth engine. What is changing in that business?

Oilfield Services is becoming an increasingly important part of ADNOC Drilling. We’re delivering more integrated services, expanding our capabilities and capturing more value across the well lifecycle.

That’s making the business stronger, more diversified and better positioned for long-term growth.

You have spoken about AI and automation. What does that mean in practical terms for ADNOC Drilling?

For us, AI is not a technology story. It’s a performance story. If it helps us deliver wells faster, improve safety, reduce costs and increase efficiency, it creates value. That’s how we’re using technology across the business.

Why is AD-300 important for the company and the wider industry?

AD-300 shows where our industry is going. It combines AI, automation and advanced analytics to improve efficiency and performance. It was deployed ahead of schedule and represents the next generation of energy services capability.

Read: ADNOC Drilling’s CEO on why the AD-300 rig signals an industry shift

Importantly, it’s just the first of several advanced island rigs that will support future growth.

How should investors view the dividend alongside continued investment in growth?

The dividend reflects the strength and predictability of our business. We’re growing earnings, increasing dividends and investing for future growth at the same time.

That’s exactly what our strategy is designed to deliver: strong returns today and sustainable growth tomorrow.

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You have reaffirmed full-year 2026 guidance. What gives you confidence in the outlook?

We know where our growth is coming from. We have a highly contracted business, strong activity levels and growing contributions from higher-value services.

Combined with the strength of our people and our operational platform, that gives us confidence in our ability to deliver on our commitments.

What role do MBPS and SLDC play in ADNOC Drilling’s growth strategy?

They strengthen our regional platform and expand our addressable market.

Together, they provide greater scale, attractive growth opportunities and additional capabilities that complement our core business. Regional expansion is a natural extension of what we already do well.

What progress are you seeing in unconventional development, and why does it matter?

Unconventional resources represent a significant opportunity for the UAE. We’ve already delivered more than 100 wells while improving efficiency and reducing costs. That demonstrates our ability to support the next phase of the UAE’s energy growth story.

How do platforms such as Enersol and Turnwell fit into the ADNOC Drilling story?

They are helping us expand our capabilities, accelerate technology adoption and create new sources of value. Alongside Oilfield Services and regional expansion, they support a broader and more diversified earnings base.

They are an important part of our evolution into a technology-enabled energy services company.

What is your message to investors and stakeholders?

The first half shows what ADNOC Drilling does best. We execute. We grow. And we deliver on our commitments. We have record performance, clear visibility for future growth and a strong team driving the business forward.

ADNOC Drilling continues to do what it says it will do, and we remain focused on creating long-term value for our shareholders, our customers and the UAE.

UAE announces fuel prices for August: Here’s what you will pay

The revised prices, effective August 1, set Super 98 petrol at Dhs3.60 per litre

Gulf Business
Gulf Business

31 July, 2026

UAE announces fuel prices for August: Here’s what you will pay
Image: Getty Images/ For illustrative purposes

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The UAE Fuel Price Committee has announced fuel prices for August.

The revised prices, effective August 1, set Super 98 petrol at Dhs3.60 per litre, from Dhs3.40 in July.

Special 95 will cost Dhs3.49 per litre, compared with the current price of Dhs3.29.

E-Plus 91 will cost Dhs3.41 from Dhs3.21.

Diesel will be priced at Dhs3.80 per litre, from Dhs3.60 in July.

The UAE reviews fuel prices monthly under a deregulated pricing mechanism introduced in 2015, linking domestic retail prices to global oil market trends and distribution costs.

Read: UAE cuts fuel prices for July after four months of increases

Need cash fast? du Pay’s new flexi cash loan brings instant credit to UAE customers

The new service is now available on the du Pay app and is being introduced in phases to a portion of registered customers

Nida Sohail
Nida Sohail

31 July, 2026

Need cash fast? du Pay’s new flexi cash loan brings instant credit to UAE customers

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du Pay, the digital financial services subsidiary of du, has launched Flexi Cash Loan, a new digital lending solution designed to provide eligible customers with quick and convenient access to short-term cash loans of up to AED 5,000 directly through the du Pay application.

The new service is now available on the du Pay app and is being introduced in phases to a portion of registered customers. The phased rollout aims to ensure a smooth application and approval experience before expanding access more widely.

Expanding access to everyday financial services

The launch marks another step in du Pay’s strategy to expand beyond payments and remittances into a broader range of everyday financial services. Flexi Cash Loan is designed to support customers who may have limited access to traditional banking products, including young professionals, blue-collar workers, and expatriate residents seeking faster access to short-term financial support.

Read more-du brings digital-first connectivity to ‘SME in a Box’

As customers continue using du Pay for their regular financial needs, they move closer to potential loan eligibility. Customers can check their eligibility directly through the app and, once approved, receive funds within minutes.

The service has been designed around simplicity and transparency, allowing customers to view pricing details upfront through a fixed one-time fee and a clearly defined repayment period, with no hidden charges.

Supporting financial inclusion through digital innovation

Roberto Mancone, CEO of du Pay, said: “Flexi Cash Loan gives customers access to financial support at the moments that matter most. Designed for customers with limited credit history, such as the UAE’s expatriate workforce and young professionals with a short salary record, the solution removes the traditional barriers to accessing credit. Through the du Pay app, eligible customers can apply for and receive credit instantly with no paperwork. It is a fast, seamless and secure experience that reflects our commitment to building a more inclusive digital financial ecosystem.”

The launch strengthens du Pay’s role in advancing financial inclusion across the UAE by extending its digital wallet ecosystem with instant, paperless access to credit.

By enabling eligible customers to access financing in less than 30 seconds without additional documentation through the du Pay app, Flexi Cash Loan aims to make borrowing more accessible, convenient, and efficient for customers who have historically faced challenges accessing traditional credit options.

Bab el-Mandeb sees 25 commodity vessels transit, Hormuz traffic stays thin

Traffic through the Strait of Hormuz remained low with only two tankers transiting

Reuters
Reuters

31 July, 2026

Bab el-Mandeb sees 25 commodity vessels transit, Hormuz traffic stays thin

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Twenty-five commodities vessels passed through the Bab el-Mandeb strait on Thursday, while traffic through the Strait of Hormuz remained low with only two tankers transiting, according to Kpler shipping data.

Of the 25 vessels that transited the Bab el-Mandeb strait, 18 entered the waterway and seven exited. The traffic included several oil tankers, among them two very large crude carriers (VLCC), one Suezmax tanker and five Aframax tankers.

Meanwhile, only two vessels transited the Strait of Hormuz, both in ballast and entering the waterway.

Some ships could still be sailing with their transponders turned off, which are not considered in the counts.

While Iran and its Houthi allies have targeted tankers transiting the Strait of Hormuz and Bab el-Mandeb, a drone strike on gas vessels in Egypt’s Mediterranean port of Damietta signalled a potential new front in the US-Iran war, raising the prospect of threats to navigation through the Suez Canal.

Regulatory boost: UAE Capital Market Authority cuts 15 fees to ease business costs

The decision follows an extensive assessment of fees linked to a broad range of services and activities under the authority’s supervision

Nida Sohail
Nida Sohail

30 July, 2026

Regulatory boost: UAE Capital Market Authority cuts 15 fees to ease business costs

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The UAE Capital Market Authority has approved the abolition of 15 fees following a comprehensive review of its fee framework, in a move designed to simplify regulatory processes, reduce costs and improve service efficiency for licensed companies and individuals operating in the country’s capital markets.

The decision follows an extensive assessment of fees linked to a broad range of services and activities under the authority’s supervision. Each fee was reviewed against current regulatory requirements, evolving market conditions and the authority’s service delivery model, resulting in the removal of charges that were no longer considered necessary under the approved framework, a WAM report said.

Periodic review supports evolving market needs

The authority said the latest measures reflect its ongoing commitment to regularly reviewing regulations, procedures and the fee framework governing the UAE’s capital markets. The initiative is intended to ensure the regulatory environment remains aligned with market developments while supporting the needs of industry participants.

Read more-UAE announces grace period, fine exemptions for stranded residents

The review also seeks to strike a balance between maintaining effective regulatory oversight and enhancing transparency around fees associated with services under the authority’s supervision. By eliminating outdated charges, the authority aims to create a more efficient and business-friendly operating environment.

Waleed Saeed Al Awadhi, CEO of the Capital Market Authority, said, “The authority remains committed to continuously reviewing and developing its fee framework to ensure it evolves alongside the capital markets and responds to the needs of licensed companies and individuals.”

He added, “This review forms part of our ongoing efforts to enhance the efficiency of regulatory services and reduce the burden on market participants, contributing to more resilient capital markets, a more effective business environment, and higher-quality services.”

Resolution available on the authority’s website

The authority confirmed that the abolished fees relate to a variety of services and activities under its regulatory oversight and form part of the broader review of its approved fee framework.

It encouraged licensed companies and individuals to review the Board Resolution published on its website for detailed information on the services covered by the fee abolition, as well as guidance on how the decision will be implemented.

Abu Dhabi sets 2027 deadline for supermarkets under new policy: What shoppers need to know

Consumers will continue to have access to all products, with HFSS items remaining available in their regular aisle locations

Nida Sohail
Nida Sohail

30 July, 2026

Abu Dhabi sets 2027 deadline for supermarkets under new policy: What shoppers need to know

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Abu Dhabi has introduced a new policy aimed at encouraging healthier consumer choices by changing how food and beverage products are displayed in supermarkets and on online grocery platforms across the emirate.

Launched by Healthy Living in collaboration with the Abu Dhabi Registration Authority (ADRA), the Abu Dhabi Department of Economic Development’s (ADDED) regulatory arm, the initiative will redesign in-store layouts and digital retail interfaces to reduce the visibility of high-fat, salt and sugar (HFSS) food and beverage products, according to a WAM report.

Read more-UAE introduces tiered excise tax model on sweetened drinks from Jan 1

The policy will become mandatory from January 1, 2027 and regulates the placement and promotion of HFSS food and beverage products in both physical and online supermarket environments without restricting their sale.

Developed in collaboration with the Department of Health (DoH), Abu Dhabi Public Health Centre (ADPHC), Abu Dhabi Quality and Conformity Council (ADQCC), and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the initiative is designed to promote healthier purchasing decisions while maintaining consumer choice.

High-visibility displays to be restricted

Under the new standards, food and beverage products classified as unhealthy under the Abu Dhabi Public Health Centre’s SEHHI classification will no longer be allowed in prominent, high-exposure areas such as store entrances, end-of-aisle displays and checkout counters. Similar restrictions will apply to online supermarket platforms, where these products can no longer be featured prominently on home pages, search results, promotional pop-ups or checkout pages.

The policy applies to physical supermarkets larger than 4,000 square feet.

Consumers will continue to have access to all products, with HFSS items remaining available in their regular aisle locations. The policy focuses on reducing the prominence of less nutritious products rather than limiting their availability.

Mohamed Munif Al Mansoori, Director-General of ADRA, said, “We are working closely with relevant entities to meet the growing demands of consumers, placing their health, safety, and well-being at the top of our priorities. Our collaboration with Healthy Living reflects a shared commitment to making healthier choices easier and accessible for all consumers. In addition to ensuring compliance of commercial entities with regulations and standards, we also deliver awareness campaigns that empower consumers to make more informed decisions and better understand the choices available to them in the market.”

Retailers begin implementation ahead of deadline

Dr Ahmed AlKhazraiji, Executive Director of Healthy Living, said the policy reflects Abu Dhabi’s long-term focus on preventive healthcare and evidence-based public health interventions.

“In Abu Dhabi, our commitment to prevention as the foundation of a healthier society is what Healthy Living was built on, and this policy is a direct reflection of that. Our approach is rooted in behavioural science and real-world evidence, and interventions like this have delivered measurable results globally. When the products consumers encounter first are not the least nutritious options, healthier choices become the natural default – empowering people to make better decisions,” he said.

Officials said the policy was developed in close consultation with retailers across the emirate to ensure the new requirements align with operational realities while incorporating international best practices.

Several retailers have already started implementing the standards ahead of the compliance deadline. Carrefour has become one of the first supermarket chains to complete the rollout across its Abu Dhabi stores.

Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding, said, “We are proud to support this ambition and to have achieved compliance with the Responsible Food and Beverage Placement Standards across our Carrefour stores in Abu Dhabi. We remain committed to creating environments that deliver healthier, more convenient shopping experiences for the millions of customers we serve each year.”

The policy marks another step in Abu Dhabi’s broader strategy to strengthen preventive healthcare through practical retail interventions, encouraging healthier purchasing habits while preserving consumer freedom of choice. By reshaping the way products are presented both in-store and online, authorities aim to make healthier options more visible and accessible, supporting long-term public health objectives without limiting product availability.

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ADNOC Drilling's CEO on its strong H1 numbers and what's next