ADNOC Gas quarterly profit jumps 8% on strong domestic demand, better margins | Reuters

ADNOC Gas quarterly profit jumps 8% on strong domestic demand, better margins | Reuters

ADNOC Gas (ADNOCGAS.AD), opens new tab reported an 8% rise in its third-quarter net profit to $1.34 billion on Thursday, its highest-ever for the period, as strong domestic demand and improved margins offset a weaker oil price environment.

The subsidiary of Abu Dhabi's state oil giant ADNOC said net income in the first three quarters ended September 30, 2025, reached $3.99 billion, up 10% from a year earlier.

The profit growth came despite average oil prices of $71 per barrel during the nine-month period, compared to $83 per barrel in the same period last year, ADNOC Gas said.

The company's domestic gas business was a key driver, with earnings before interest, tax, depreciation and amortisation (EBITDA) hitting a record $914 million in the third quarter, jumping 26%.

ADNOC Gas attributed this to a 4% rise in domestic sales volumes and "successful structural improvements from contract renegotiation."

"Our record Q3 results... are a testament to the resilience and adaptability of our business model," Chief Executive Officer Fatema Al Nuaimi said in a statement. "Our profitability continues to grow, even while oil prices are down."

ADNOC Gas will start distributing dividends quarterly, with a $896 million third-quarter interim payout due to shareholders by December 12. The more frequent payouts are part of a broader plan for several ADNOC subsidiaries announced last month.

The company's board also approved an extension of its 5% annual dividend payout increase until 2030.

The third-quarter revenue, however, dropped 6% to $5.931 billion, while net income margins improved to 22.6%, from 19.8% a year ago.

Most Gulf markets ease on oil, earnings | Reuters

Most Gulf markets ease on oil, earnings | Reuters

Most stock markets in the Gulf ended lower on Thursday amid persistently weak oil prices and a string of lackluster corporate earnings reports.

Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.7%, hit by a 0.6% fall in Al Rajhi Bank (1120.SE), opens new tab and a 1.4% decrease in Saudi National Bank (1180.SE), opens new tab.

Elsewhere, oil behemoth Saudi Aramco (2222.SE), opens new tab lost 0.4%.

Oil prices - a catalyst for the Gulf's financial markets - edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply with looming sanctions against Russia's Lukoil.

The world oil market will see a small surplus in 2026 after OPEC+ production increases and higher supply from other producers, an OPEC report showed on Wednesday, a further shift from its earlier projections of a deficit.

Dubai's main share index (.DFMGI), opens new tab retreated 0.8%, weighed down by a 4.7% slide in Emirates NBD (ENBD.DU), opens new tab, while Salik Company (SALIK.DU), opens new tab was down 1.9%. The toll operator reported a year-over-year increase in third-quarter net profit, but experienced a sequential decline from the previous quarter.

In Abu Dhabi, the index (.FTFADGI), opens new tab lost 0.4%, with Presight AI Holding (PRESIGHT.AD), opens new tab plunging 9.8%, despite reporting a rise in quarterly profit.

The Qatari index (.QSI), opens new tab tumbled 1.1%, with Qatar Islamic Bank (QISB.QA), opens new tab declining 2.4%.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.1%, with Commercial International Bank (COMI.CA), opens new tab falling 1.7%.