{
  "id": 16711261,
  "title": "Adnoc Drilling's nine-month profit rises to $1.07bn as revenue hits record",
  "url": "https://urgent.news/2026/10/27/adnoc-drillings-nine-month-profit-rises-to-1-07bn-as-revenue-hits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-27T05:30:08.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/energy/2026/10/27/adnoc-drillings-nine-month-profit-rises-to-107bn-as-revenue-hits-record/"
  },
  "original_language": "en",
  "account": "Adnoc Drilling, the largest drilling firm in the Middle East by rig count, announced a modest rise in its nine-month net profit, reaching $1.07 billion, as revenue soared to a new record high of $3.7 billion. The company's first nine months of 2026 witnessed a 0.7% annual increase in net profit, from $1.06 billion in the previous year. Revenue for the same period ascended by more than 2% to $3.7 billion, primarily due to elevated contributions from onshore and offshore drilling, and operational consolidation. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 2% to $1.66 billion. Adnoc Drilling's CEO, Abdulla Al Messabi, credited the company's business model, contracted revenue base, and strategic growth initiatives for the positive performance. The company introduced the Drill-to-Operate strategy, aiming to increase revenue from each well and expand its presence in regional energy markets. Al Messabi emphasized that the move marked a natural progression in Adnoc Drilling's capabilities and diversification efforts. The UAE's oil production strategy aims for 5 million barrels per day by 2027, with Adnoc Drilling playing a pivotal role. The firm has secured a $365 million contract for the Umm Shaif gas cap project in Abu Dhabi and continues to expand its fleet and oilfield services capabilities. The company's board approved a third-quarter dividend of $350 million, marking a 22.5% increase from the previous year. Adnoc Drilling maintains its full-year revenue and net profit guidance of $5 billion and approximately $1.45 billion, respectively, with an anticipated 1.2 billion to 1.3 billion in free cash flow this year.",
  "summary": "Adnoc Drilling , the biggest drilling company by rig count in the Middle East, reported a marginal increase in its nine-month net profit as revenue climbed to a record, supported by the expansion of its onshore and offshore drilling operations. Net profit attributable to shareholders of the company to the end of September increased 0.7 per cent annually to $1.07 billion in the first nine months…",
  "key_points": [
    "Adnoc Drilling's nine-month net profit rises to $1.07 billion",
    "Revenue hits record high of $3.7 billion in first nine months of 2026",
    "CEO credits business model and strategic growth for positive performance"
  ],
  "editors_take": "Scaling onshore and offshore operations through the Drill-to-Operate strategy positions the firm as a central driver in the UAE's broader mission to expand national oil production capacity.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}