Recent annual levels have been significantly below this amount, due to industry downturns, the pandemic and the increasing focus on environmental, social and governance issues
The energy provider said its net profit soared 19.4 per cent quarter-on-quarter and free cash flow stood at Dhs1.04bn
The net income for the quarter ended March 31 included a one-time tax benefit of $300m following its formation earlier this year
Profitability for the quarter dropped 7 per cent compared to a 22 per cent decrease in the company’s realised prices during the period
The partnership builds on ADNOC Group’s $15bn commitment towards decarbonisation projects by 2030
Global crude oil prices declined in the first quarter of 2023 mainly driven by macroeconomic events contributing to market volatility
The utility company’s revenue for the first three months of the year hit Dhs5.44bn, up 7.3 per cent year-on-year
The location’s proximity to ADNOC’s current operations and its future growth projects were all important factors in the decision
The three-year contract is expected to commence in 2023 and will run through 2025
West Texas Intermediate futures slipped 0.7 per cent, after rallying 2.7 per cent on Friday
The fuel price committee marginally increased petrol prices by 15 fils for the month of May
West Texas Intermediate steadied near $75 a barrel after closing 0.6 per cent higher on Thursday
West Texas Intermediate traded below $79 a barrel after rallying around 2 per cent over the previous two sessions
West Texas Intermediate fell toward $77 a barrel after dropping the most since the banking crisis in March last week
Adopting energy-efficient strategies that reduce the demand and greening the current energy supply is key, says Pierre Cheyron
Ministry of Industry and Advanced Technology hosts around 30 German companies to discuss expanding cooperation in fields such advanced technologies and de-carbonisation
West Texas Intermediate futures dipped toward $77 a barrel and are more than 6 per cent lower this week
West Texas Intermediate remainder above $82 a barrel, taking its weekly advance to about 2 per cent and the longest winning run since June
The contract will enable the efficient delivery of completion services at Upper Zakum field and adds 20 per cent to annual revenue compared with 2022
The carriers have dual-fuel engine technology and use liquified petroleum gas as their primary fuel source
West Texas Intermediate traded above $83 a barrel after advancing by 4.4 per cent over the prior two days
West Texas Intermediate traded above $81 a barrel after rallying by 2.2 per cent on Tuesday
West Texas Intermediate traded below $80 a barrel after closing 1.2 per cent lower on Monday
The projects have a combined capacity of around 900 MW and they will power more than one million homes
The energy project aims to recover flared gas on three oil fields in order to supply power plants and build a seawater treatment plant to increase oil production
The loans will support the construction and operation of the 500MW Dzhankeldy wind farm and the 500MW Bash wind power plant in Uzbekistan
The shareholders’ approval brings the total full-year 2022 dividend to 15.67 fils per share or $682.5m
The company’s full-year net profit jumped by 7 per cent year-on-year to Dhs1bn in 2022 while its revenues reached Dhs2.8bn
The fuel price committee marginally slashed the rates by 8 fils per litre, after two consecutive months of increases
The company’s unaudited combined pro forma results follow its record IPO earlier in March