Adnoc announced on 17 February that the IPO of its newly formed Adnoc Gas entity will see 4% of the firm floated. It first announced the planned IPO in late November, with Adnoc Gas created effective 1 January (MEES, 2 December 2022).
Adnoc Gas says that over the first ten months of 2022 it had adjusted revenue of $21.1bn and net income of $4.2bn. The firm has access to 10bn cfd of gas processing capacity and supplies 60% of the UAE’s sales gas needs. (CONTINUED - 223 WORDS)