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ADNOC Gas warns Hormuz disruption to hit Q2 earnings after resilient Q1

Gulf News: Latest UAE news, Dubai news, Business, travel news, Dubai Gold rate, prayer time, cinema·Justin Varghese·21 days ago
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Dubai: ADNOC Gas said on Tuesday it expects the ongoing disruption to maritime traffic through the Strait of Hormuz to weigh on second-quarter earnings, even as the company reported resilient first-quarter profit and maintained its long-term growth targets despite security incidents at its Habshan gas processing complex. The Abu Dhabi-listed company reported net income of $1.1 billion for the first quarter of 2026, down 8% from the previous quarter, citing "increased regional uncertainty and difficult market conditions, which have caused major disruption in the energy sector and to maritime movements through the Strait of Hormuz." Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “This quarter was shaped by exceptional external disruption, and our priorities were clear: protect our people and assets, maintain safe domestic supply, and protect shareholder value through disciplined execution.…

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