ADNOC

Sector : Energy

Country : UAE

The Abu Dhabi National Oil Company (ADNOC) is widely regarded as one of the most iconic companies in the MENA region, playing a central role in both the UAE’s economic strength and global energy markets.

The group’s publicly traded portfolio companies combined to deliver over $2.3bn (Dhs8.4bn) in Q1 2025 net profits, reflecting their resilient business models and ability to generate robust profits in evolving market conditions.

As the UAE’s primary energy producer, ADNOC is expanding its crude oil production capacity to five million barrels per day by 2027, up from four million barrels in 2020. It has also made significant moves in natural gas, with ADNOC Gas reporting a record $5bn net income in 2024 and production capacity of 10 billion standard cubic feet per day.

ADNOC has recently launched XRG, its new international investment arm, with $80bn in assets across chemicals, gas, and renewables.

The group’s acquisition of a majority stake in Fertiglobe has further positioned it as a leader in lowcarbon ammonia, aligning ADNOC with global decarbonisation goals. Technological innovation is central to its strategy.

Through its AI joint venture AIQ, ADNOC has deployed AR360, a reservoir analytics tool already in use across 30 sites. It is also collaborating with Masdar and Microsoft to accelerate AI-driven sustainability solutions.

On the financial front, ADNOC’s listed subsidiaries generated Dhs89bn in revenue in the first half of 2024, with combined net profits surpassing Dhs16bn — underscoring the group’s contribution to the UAE economy and investor confidence across its energy portfolio.

The group operates the Ruwais Refinery, the largest in the Middle East, with capacity to process 837,000 barrels per day. Under the leadership of Dr Sultan Ahmed Al Jaber, ADNOC has balanced fossil fuel expansion with climate responsibility.

His role signals the UAE’s intent to lead a pragmatic energy transition. Its strategic transformation from a traditional oil company to a diversified energy powerhouse ensures its continued impact for decades to come.