en.Wedoany.com Reported - On August 10, UAE natural gas producer ADNOC Gas announced its Q2 2026 results: net profit stood at $665 million, down 52% year-on-year; revenue fell to $3.624 billion, and EBITDA reached $1.194 billion, down 39% and 47% year-on-year, respectively. Net profit still exceeded the company's previously provided guidance range of $400 million to $600 million.

During the reporting period, shipping disruptions in the Strait of Hormuz limited loadings of liquefied petroleum gas, naphtha, and liquefied natural gas. The company's domestic natural gas sales fell to 429 trillion British thermal units, down 30% year-on-year; export and trading liquid product sales reached 117 trillion British thermal units, down 53% year-on-year. Higher international oil and gas prices failed to offset the impact of lower export volumes.

EBITDA from the domestic natural gas business was $687 million, roughly flat quarter-on-quarter; the export and trading liquid products business fell to $369 million, down 62% year-on-year; profit share from the LNG joint venture was $71 million, down 74% year-on-year. In the first half of 2026, the company's cumulative net profit was $1.744 billion, down 34% year-on-year.

ADNOC Gas's Q2 capital expenditure was $983 million, up 48% year-on-year; first-half capital expenditure reached $2.008 billion, up 65% year-on-year. The company raised its 2026-2030 capital expenditure plan from approximately $20 billion to approximately $28 billion, with final investment decisions for phases two and three of the rich gas development project corresponding to approximately $8.2 billion in additional investment.

In the context of continued shipping constraints, the company expects Q3 net profit of $600 million to $800 million. If maritime transport recovers in Q4 and product prices normalize, full-year 2026 net profit is expected to be $3.5 billion to $4 billion. The company's board also approved a Q2 dividend of $940 million.