Adnoc Distribution Reports 94% Profit Surge and Shell Acquisition

Adnoc Distribution reported a net profit of 1.31 billion U.A.E. dirhams ($358 million) for the quarter ending June 30, representing a 94% increase from the 677 million dirhams earned in the previous year. Revenue rose 53% to 13.2 billion dirhams, a growth driven by record fuel volumes, inventory gains, and the expansion of its network.

Chief Executive Bader Saeed Al Lamki stated the company delivered record earnings while simultaneously expanding its business operations. As part of the state-owned Abu Dhabi National Oil Co., the company is continuing to grow its mobility and convenience segments.

To further its international retail network, Adnoc Distribution agreed to acquire Shell's downstream business in South Africa for approximately $1 billion. The transaction is expected to close in 2027, pending regulatory approval.