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  • 10-11-21

    Adnoc in Abu Dhabi soars 48 percent in net profit

    (MENAFN) Adnoc's: Abu Dhabi National Oil Company drilling division recorded a 48 per cent growth in July-September period net profit, supported by its onshore as well as oilfield services sectors.

    Adnoc Drilling stated on Wednesday in a regulatory filing to the Abu Dhabi Securities Exchange, where its stocks are traded, that net profit jumped to USD178 million, up from USD120m in the same time span a year before.

    Income for the mentioned time span increased 11 per cent to reach USD571 million.

    Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, Dr Sultan Al Jaber stated “with double-digit revenue growth, Adnoc Drilling has demonstrated exceptional financial performance and commercial resilience, reflected in a very robust third quarter."

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