November 13, 2025 [Reuters]- ADNOC Gas 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.