According to Reuters article published on March 30, 2023, Abu Dhabi's ADNOC Gas (ADNOCGAS.AD) on Thursday reported a 32% increase in its 2022 core earnings on a pro forma basis, citing a higher pricing environment and increased sales volumes amid strong market conditions.
Abu Dhabi National Oil Company (ADNOC) raised $2.5 billion earlier this month by selling a 5% stake in ADNOC Gas to investors via an initial public offering.
ADNOC Gas' pro forma adjusted core earnings for last year came in at $8.7 billion, the company said in a bourse filing, up from $6.6 billion in 2021.
ADNOC Gas became operational on Jan. 1 through the consolidation of ADNOC Gas Processing, ADNOC LNG and ADNOC Industrial Gas.
