Lates News

Abu Dhabi National Oil Company's gas business: It announced that it has awarded a total engineering contract worth $8.2 billion for the second and third phases of the Ruwais-Dhafra-Jila project. The net profit forecast for the third quarter is based on the assumption that maritime routes in the Strait of Hormuz continue to face disruptions. The company stated that the premise for the annual profit forecast is that offshore operations are fully restored in the fourth quarter and that actual product prices return to normal. Domestic natural gas sales volume in the first half of the year fell by 20% to 94.8 billion British thermal units, primarily due to a reduction in reinjection gas volume. Influenced by disruptions in the Strait of Hormuz starting in March, which persisted throughout the second quarter, export and trade volumes of liquid products decreased by 36% to 31.9 billion British thermal units, with limited exports of liquefied petroleum gas, naphtha, and liquefied natural gas. The capacity to capitalize on high market prices in the second quarter was constrained due to regional conflicts. The company has closely collaborated with customers and partners to mitigate the impact of the disruptions, address temporary capacity constraints, and fulfill contract obligations as much as possible.