August 22nd, 2019 | 0 commentsNational Gas and Industrialization Company (GASCO) reported its initial financial results for the second quarter of 2019. Net profits after zakat and tax fell by 44.87% to SAR 17.84 million in Q2-19, compared to SAR 32.36 million in Q2-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday. Total revenues of the Saud...
August 22nd, 2019 | 0 commentsAbu Dhabi National Energy Company (Taqa), listed on the Abu Dhabi Securities Exchange (ADX), on Wednesday announced its subsidiary TAQA Atrush B.V. (Taqa Iraq) has made a new production record from the Atrush oil field in the Kurdistan Region of Iraq (KRI). The total monthly production volume from the field has surpassed 1 million barrels...
August 22nd, 2019 | 0 commentsThe Abu Dhabi National Oil Company (ADNOC) announced it has awarded three contracts worth a combined AED 13.2 billion ($3.6 billion) for the procurement of casing and tubing. The awarded projects are one of the world’s largest in this category as it reinforces value for ADNOC’s drilling value chain business and supports its strategy to bo...
August 11th, 2019 | 0 commentsAbu Dhabi National Energy Company (Taqa), a leading global energy company headquartered in the UAE capital with operations in 11 countries, has registered a revenue of Dh9 billion ($2.45 billion) during the first half of the year, up 5 per cent over the same period last year. Announcing its financial results and operational highlights for...
August 7th, 2019 | 0 commentsSaudi Arabia Refineries (SARCO) turned to profit during the second quarter of 2019, achieving SAR 10.2 million net profit. In the first six months of the year, SARCO’s profit reached SAR 8.96 million, according to a bourse statement released on Tuesday. “The reason for profit during the current quarter is due to dividend distributions for...
August 5th, 2019 | 0 commentsAdnoc Distribution today reported that its first-half 2019 net profit increased by 4.3 percent to Dh1.173 billion ($319.37 million), compared with the same period last year. Free cash flow (EBITDA minus capital expenditures) generation was up 21 percent year-on-year to Dh1.345 billion in the first half of 2019, said a Wam news agency repo...
July 31st, 2019 | 0 commentsDana Gas, the largest private natural gas company in the Middle East, said it is currently performing a strategic review of its oil and gas assets in Egypt. Accordingly, the Sharjah-based firm has appointed financial advisors to consider the possible sale at full value, Dana Gas added in a statement to the Abu Dhabi Securities Exchange (A...
July 31st, 2019 | 0 commentsSingapore’s sovereign wealth fund (GIC) has entered into a $600 million follow-on pipeline infrastructure investment agreement with the Abu Dhabi National Oil Company (Adnoc). Under the agreement, GIC will acquire 6% of Adnoc Oil Pipelines, while BlackRock and KKR hold a combined stake of 40% and ADRPBF owns 3%. "We are delighted that GIC...
July 30th, 2019 | 0 commentsNational Petrochemical Company (Petrochem) reported its interim consolidated financial statement for the first half of 2019. Net profits after zakat and tax decreased by 36.4% to SAR 183 million during the second quarter of 2019, compared to SAR 288 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul)...
July 30th, 2019 | 0 commentsDana Gas, listed on the Abu Dhabi Securities Exchange (ADX), has appointed the US-based investment bank Tudor, Pickering, Holt & Co. (TPH) to advise it on the sale of its Egyptian assets worth more than $500 million, Reuters reported, citing two sources familiar with the matter. The Sharjah-based private gas company currently consider...
