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Gulf Today
26-05-2025
- Business
- Gulf Today
Adnoc's listed firms post strong results with over $2.3 billion net profit
Adnoc Group's publicly traded portfolio companies combined to deliver over $2.3 billion (Dhs8.4 billion) in first quarter (Q1) net profit, reflecting their resilient business models and ability to generate robust profits in evolving market conditions. Each of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable growth. Adnoc Distribution delivered first quarter net profit of $174 million (Dhs639 million), up 16 per cent year-on-year, and its highest-ever first quarter EBITDA behind record Q1 fuel sales and strong performance in non-fuel retail. The company added 20 new service stations to its network in the quarter, bringing the total to 915 and putting it on track to meet its target of 40-50 new stations by the end of 2025. Adnoc Distribution also reaffirmed its commitment to its dividend policy, aiming for an annual payout of $700 million (Dhs2.57 billion) equivalent to (20.57 fils per share) or at least 75 per cent of net profit, whichever is higher, through 2028. Adnoc Drilling reported strong first quarter results with revenue up 32 per cent to $1.17 billion (Dhs4.30 billion) year-on-year (y-o-y), EBITDA up 22 per cent to $533 million (Dhs1.96 billion) y-o-y and net profit increasing 24 per cent to $341 million (Dhs1.30 billion) y-o-y. The company also announced new contract awards worth over $2.4 billion (Dhs8.8 billion) providing unmatched multi-year earnings visibility and adding to its multi-billion-dollar revenue pipeline. Additionally, Adnoc Drilling's Board of Directors approved quarterly dividend distributions, resulting in a payment of $217 million (Dhs796 million) for the first quarter of 2025. For 2025, Adnoc Drilling expects to deliver revenues between $4.60 - 4.80 billion (Dhs16.9 - 17.6 billion) and net profit between $1.35 - 1.45 billion (Dhs4.95 - 5.32 billion). Adnoc Gas reported a net income of $1.27 billion (Dhs4.7 billion) for Q1 2025, up 7 per cent year-on-year, and EBITDA of $2.16 billion (Dhs7.9 billion), up 4 per cent year-on-year, driven by increased domestic gas demand and efficient management of the planned shutdown programme, which boosted processing capacity. The company continues to invest to achieve its longer-term EBITDA growth target of over 40 per cent between 2023 and 2029. Significant LNG supply agreements worth $9 billion (Dhs30.24 billion) were signed with Indian Oil Corporation and JERA Global Markets, and capital expenditures increased by 43 per cent year-on-year. On 13th May, Adnoc Gas was selected for inclusion in the MSCI Emerging Markets Index after meeting the necessary criteria. The inclusion will take effect from 2nd June, and is expected to increase cash inflows by between $300-$500 million (Dhs1.0 - 1.8 billion) and attract more international institutional investors. Adnoc Logistics & Services (Adnoc L&S) reported strong Q1 2025 financial results with a 41 per cent increase in revenue to $1.2 billion (Dhs4.34 billion) and a 20 per cent rise in EBITDA to $344 million (Dhs1.26 billion), backed by strong performance across all business segments. The results underpin the resilience of the company's diversified business model where growth from the Integrated Logistics segment offset lower seasonal shipping rates. Adnoc L&S maintained both its 2025 net income and EBITDA guidance and its medium-term guidance, reflecting its continued positive long-term growth and strategic expansion. The Company's 2025 annual dividend is expected to grow 5 per cent in line with its progressive dividend policy. Borouge reported strong Q1 2025 results with net profit of $281 million (Dhs1.03 billion), driven by year-on-year increases of 10 per cent for sales volumes and 7 per cent for production volumes. Revenue grew by 9 per cent year-on-year to $1.42 billion (Dhs5.21 billion), with EBITDA of $564 million (Dhs2.07 billion), maintaining industry-leading margins of 40 per cent. The company also announced it has purchased over 89 million of its own shares since launching its share buyback programme in April, reflecting its strong confidence in its future prospects. Borouge will increase its 2025 annual dividend to 16.2 fils per share, which is expected to be maintained until 2030 by Borouge Group International (BGI) following completion of the BGI transactions that are expected to close in Q1 2026. Fertiglobe announced strong Q1, 2025 results, with revenues up 26 per cent and adjusted EBITDA rising 45 per cent year over year. Adjusted net profit would have been up 306 per cent excluding last year's one-off foreign exchange revaluation gain, driven by higher urea prices and operational gains. The company also launched its 'Grow 2030 Strategy' to deliver $1 billion in EBITDA by 2030, focusing on operational excellence, customer proximity product expansion, and disciplined low-carbon ammonia growth. WAM
Time Out Dubai
26-05-2025
- Automotive
- Time Out Dubai
How much does a Dubai taxi ride cost?
The rate of taxi fares in Dubai per kilometre has risen once again in the city in comparison to 2024. The Dubai Taxi Company website says that the per kilometre rate is now Dhs2.26 when using a S'hail with RTA and when ordering with Careem. In August 2024, the rate was Dhs2.14, while at the beginning of 2024, the rate was Dhs1.97 per kilometre to get a taxi. Taxi fare rates fluctuate based on a number of different factors including the cost of petrol, which has both risen and fallen so far in 2025. Credit: Hala Petrol prices per litre for April in the UAE now stand at Dhs2.57 for Super 98 petrol, Dhs2.46 for Special 95 petrol, E-plus 91 petrol is Dhs2.51 and diesel is Dhs2.63. Petrol prices fluctuate monthly, which can affect the taxi rate. In February 2025, prices increased slightly, before falling in March and rising again in April. Prices for May 2025 will soon be announced. Base fares for taxis remain at Dhs12 and you can calculate how much you'll pay for a taxi ahead of time if you're working with a budget. The overall fee at the end of your journey will take your base fare and per kilometre into account as well as the time spent in the car. Petrol price rises have led to a hike in Dubai taxi fares. (Credit: Supplied) When ordering with an app, you're given a rough estimate of how much each journey will cost you before you book. Taxi fares haven't increased substantially since July 2022, which had also followed months of fuel price rises across the world. RTA says that any change in taxi fares is dynamic and based on the fluctuating fuel prices in the local market and is calculated based on fuel usage per kilometre in its cars. It says that this is driven (no pun intended) by more and longer trips from the Dubai public, as well as higher tariffs. Revenue for the Dubai Taxi Company (DTC) has also been supported by additional taxis in its fleet, which includes doubling its fleet at Dubai International Airport. Life in Dubai In pictures: Dubai then and now See just how much the city has changed through the decade UAE petrol price prediction May 2025: Will we see another drop? Fuel prices change every month in Dubai Revealed: The 14 cheapest neighbourhoods to rent in Dubai 2025 The most affordable places to live in the city
Time Out Dubai
01-05-2025
- Automotive
- Time Out Dubai
UAE petrol prices revealed for May 2025: What Dubai motorists will pay
The UAE petrol prices for May 2025 have been announced and will now come into effect. Drivers in Dubai and the rest of the United Arab Emirates will pay slightly more for petroleum but less for diesel than last month. UAE fuel prices had increased during February following a price freeze in December and January. But now from Thursday May 1, the per litre rate will increase for petrol but drop for diesel. You can see a full breakdown below: UAE petrol prices May 2025 Super 98: Will now be Dhs2.58 per litre, compared to Dhs2.57 per litre last month Will now be Dhs2.58 per litre, compared to Dhs2.57 per litre last month Special 95: Will now be Dhs2.47 per litre, compared to Dhs2.46 per litre last month Will now be Dhs2.47 per litre, compared to Dhs2.46 per litre last month E-Plus 91: Will now be Dhs2.39 per litre, compared to Dhs2.38 per litre last month Will now be Dhs2.39 per litre, compared to Dhs2.38 per litre last month Diesel: Will now be Dhs2.52 per litre, compared to Dhs2.63 per litre last month UAE petrol prices are announced on the final day of every month by the United Arab Emirates federal government via its petroleum firm Emarat. In December, the price of petrol and diesel in the UAE reached its lowest point of 2024 and 2025 started things off with the exact same rates. You can see how petrol prices have fluctuated throughout the past year below. UAE petrol prices 2025 April 2025 Super 98: Dhs2.57 per litre Dhs2.57 per litre Special 95: Dhs2.46 per litre Dhs2.46 per litre E-Plus: 91: Dhs2.38 per litre Dhs2.38 per litre Diesel: Dhs2.63 per litre March 2025 E-plus 91: Dhs2.51 per litre Dhs2.51 per litre Diesel: Dhs2.77 per litre Dhs2.77 per litre Special 95: Dhs2.61 per litre Dhs2.61 per litre Super 98: Dhs2.73 per litre February 2025 Super 98: Dhs2.74 per litre Dhs2.74 per litre Special 95: Dhs2.63 per litre Dhs2.63 per litre E-Plus 91: Dhs2.55 per litre Dhs2.55 per litre Diesel: Dhs2.82 per litre January 2025 Super 98: Dhs2.61 per litre Dhs2.61 per litre Special 95: Dhs2.50 per litre Dhs2.50 per litre E-Plus: 91: Dh2.43 per litre Dh2.43 per litre Diesel: Dhs2.68 per litre UAE petroleum prices change every month (Credit: Canva) UAE petrol prices 2024 December 2024 Super 98: Dhs2.61 per litre Dhs2.61 per litre Special 95: Dhs2.50 per litre Dhs2.50 per litre E-Plus: 91: Dh2.43 per litre Dh2.43 per litre Diesel: Dhs2.68 per litre November 2024 Super 98: Dhs2.74 per litre Dhs2.74 per litre Special 95: Dhs2.54 per litre Dhs2.54 per litre E-Plus 91: Dhs2.55 per litre Dhs2.55 per litre Diesel: Dhs2.67 per litre Super 98: Dhs2.66 per litre Dhs2.66 per litre Special 95: Dhs2.54 per litre Dhs2.54 per litre E-Plus 91: Dhs2.47 per litre Dhs2.47 per litre Diesel: Dhs2.6 per litre (Credit: Adobe Express) Super 98: Dhs2.90 per litre Dhs2.90 per litre Special 95: Dhs2.78 per litre Dhs2.78 per litre E-Plus 91: Dhs2.71 per litre Dhs2.71 per litre Diesel: Dhs2.78 per litre Super 98: Dhs3.05 per litre Dhs3.05 per litre Special 95: Dhs2.93 per litre Dhs2.93 per litre E-Plus 91: Dhs2.86 per litre Dhs2.86 per litre Diesel: Dhs2.95 per litre Super 98 petrol: Dhs2.99 per litre Dhs2.99 per litre Special 95 petrol: Dhs2.88 per litre Dhs2.88 per litre E-plus 91petrol: Dhs2.80 per litre Dhs2.80 per litre Diesel: Dhs2.89 per litre UAE petroleum prices will change next month (Credit: Supplied) Super 98 petrol: Dhs3.03 per litre Dhs3.03 per litre Special 95 petrol: Dhs2.92 per litre Dhs2.92 per litre E-plus 91petrol: Dhs2.85 per litre Dhs2.85 per litre Diesel: Dhs3.16 per litre Super 98 petrol: Dhs2.88 per litre Dhs2.88 per litre Special 95 petrol: Dhs2.76 per litre per litre Dhs2.76 per litre per litre E-plus 91petrol: Dhs2.69 per litre Dhs2.69 per litre Diesel: Dhs2.99 per litre Super 98 petrol: Dh2.82 per litre Dh2.82 per litre Special 95 petrol: Dhs2.71 per litre Dhs2.71 per litre E-plus 91petrol: Dhs2.64 per litre Dhs2.64 per litre Diesel: Dhs3.00 per litre Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices. For the past 10 years, the fuel price committee has met on a monthly basis to announce revised rates. The government hopes the measure will encourage more residents to use public transport while also incentivising the use of alternative fuels. Dubai nostalgia 8 pictures of what Global Village used to look like from the 90s car park to today The history of Dubai's favorite family day out 19 pictures showing what DXB Airport used to look like From 200 passengers a day to Emirates launch 20 pictures that show how much Dubai has changed from the 1950s to today. Take a look at these unrecognizable photos of the city
Time Out Abu Dhabi
30-04-2025
- Automotive
- Time Out Abu Dhabi
These are the official UAE petrol prices for May 2025
The UAE petrol prices for May 2025 have been announced. Drivers in Abu Dhabi and the rest of the United Arab Emirates will pay slightly more for petroleum but less for diesel than last month. UAE fuel prices had increased during February following a price freeze in December and January. But now from Thursday May 1, the per litre rate will increase for petrol but drop for diesel. You can see a full breakdown below: UAE petrol prices May 2025 Super 98: Will now be Dhs2.58 per litre, compared to Dhs2.57 per litre last month Will now be Dhs2.58 per litre, compared to Dhs2.57 per litre last month Special 95: Will now be Dhs2.47 per litre, compared to Dhs2.46 per litre last month Will now be Dhs2.47 per litre, compared to Dhs2.46 per litre last month Diesel: Will now be Dhs2.52 per litre, compared to Dhs2.63 per litre last month UAE petrol prices May revealed (Credit: UAE BARQ) UAE petrol prices are announced on the final day of every month by the United Arab Emirates federal government via its petroleum firm Emarat. In December, the price of petrol and diesel in the UAE reached its lowest point of 2024 and 2025 started things off with the exact same rates. You can see how petrol prices have fluctuated throughout the past year below. UAE petrol prices 2025 April 2025 Super 98: Dhs2.57 per litre Dhs2.57 per litre Special 95: Dhs2.46 per litre Dhs2.46 per litre E-Plus: 91: Dhs2.38 per litre Dhs2.38 per litre Diesel: Dhs2.63 per litre March 2025 E-plus 91: Dhs2.51 per litre Dhs2.51 per litre Diesel: Dhs2.77 per litre Dhs2.77 per litre Special 95: Dhs2.61 per litre Dhs2.61 per litre Super 98: Dhs2.73 per litre February 2025 Super 98: Dhs2.74 per litre Dhs2.74 per litre Special 95: Dhs2.63 per litre Dhs2.63 per litre E-Plus 91: Dhs2.55 per litre Dhs2.55 per litre Diesel: Dhs2.82 per litre January 2025 Super 98: Dhs2.61 per litre Dhs2.61 per litre Special 95: Dhs2.50 per litre Dhs2.50 per litre E-Plus: 91: Dh2.43 per litre Dh2.43 per litre Diesel: Dhs2.68 per litre UAE petroleum prices change every month (Credit: Canva) UAE petrol prices 2024 December 2024 Super 98: Dhs2.61 per litre Dhs2.61 per litre Special 95: Dhs2.50 per litre Dhs2.50 per litre E-Plus: 91: Dh2.43 per litre Dh2.43 per litre Diesel: Dhs2.68 per litre November 2024 Super 98: Dhs2.74 per litre Dhs2.74 per litre Special 95: Dhs2.54 per litre Dhs2.54 per litre E-Plus 91: Dhs2.55 per litre Dhs2.55 per litre Diesel: Dhs2.67 per litre Super 98: Dhs2.66 per litre Dhs2.66 per litre Special 95: Dhs2.54 per litre Dhs2.54 per litre E-Plus 91: Dhs2.47 per litre Dhs2.47 per litre Diesel: Dhs2.6 per litre (Credit: Adobe Express) Super 98: Dhs2.90 per litre Dhs2.90 per litre Special 95: Dhs2.78 per litre Dhs2.78 per litre E-Plus 91: Dhs2.71 per litre Dhs2.71 per litre Diesel: Dhs2.78 per litre Super 98: Dhs3.05 per litre Dhs3.05 per litre Special 95: Dhs2.93 per litre Dhs2.93 per litre E-Plus 91: Dhs2.86 per litre Dhs2.86 per litre Diesel: Dhs2.95 per litre Super 98 petrol: Dhs2.99 per litre Dhs2.99 per litre Special 95 petrol: Dhs2.88 per litre Dhs2.88 per litre E-plus 91petrol: Dhs2.80 per litre Dhs2.80 per litre Diesel: Dhs2.89 per litre UAE petroleum prices will change next month (Credit: Supplied) Super 98 petrol: Dhs3.03 per litre Dhs3.03 per litre Special 95 petrol: Dhs2.92 per litre Dhs2.92 per litre E-plus 91petrol: Dhs2.85 per litre Dhs2.85 per litre Diesel: Dhs3.16 per litre Super 98 petrol: Dhs2.88 per litre Dhs2.88 per litre Special 95 petrol: Dhs2.76 per litre per litre Dhs2.76 per litre per litre E-plus 91petrol: Dhs2.69 per litre Dhs2.69 per litre Diesel: Dhs2.99 per litre Super 98 petrol: Dh2.82 per litre Dh2.82 per litre Special 95 petrol: Dhs2.71 per litre Dhs2.71 per litre E-plus 91petrol: Dhs2.64 per litre Dhs2.64 per litre Diesel: Dhs3.00 per litre Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices. For the past 10 years, the fuel price committee has met on a monthly basis to announce revised rates. The government hopes the measure will encourage more residents to use public transport while also incentivising the use of alternative fuels. More going on in Abu Dhabi UAE residents can now save big time on flights thanks to a new Skyscanner feature No complaints here You can now get a robotaxi from Zayed International Airport Trips to the airport just got an upgrade Abu Dhabi's best restaurants: Everywhere you should eat at least once Your dinner inspo is sorted 20 incredibly fun ways to explore Abu Dhabi after dark The city is at its most fascinating once the sun goes down
What's On
30-04-2025
- Automotive
- What's On
UAE announces fuel prices for May 2025
Take note, UAE fuel prices have been announced… If you drive a vehicle, take note that the UAE fuel prices for May 2025 will both increase and decrease… Yep you heard it right. From May 1, 2025, Super 98 will cost Dhs2.58, a slight increase from Dhs2.57 per litre in April 2025. Additionally, Special 95 will also go up and be priced at Dhs2.47 per litre, an increase from Dhs2.46 in April 2025. As for diesel, the price in May 2025 will be Dhs2.52, down from Dhs2.63 per litre in April 2025. Here are the petrol prices in the UAE for Super 98 from January 2024 to April 2025: 2025 UAE fuel prices January: Dhs2.61 February: Dhs2.74 March: Dhs 2.73 April: Dhs 2.57 May: 2.58 2024 January: Dhs2.82 February: Dhs2.88 March: Dhs3.03 April: Dhs3.15 May: Dhs3.34 June: Dhs3.14 July: Dhs2.99 August: Dhs3.05 October: Dhs2.66 November: Dhs2.74 December: Dhs2.61 All prices include the five per cent VAT. The UAE's Ministry of Energy first began setting the fuel prices based on average global prices in August 2015. Prior to that, the price of petrol in the UAE was subsidised by the government, which shielded consumers from global fluctuations in the cost of petrol. Get fuelling… Image: Unsplash > Sign up for FREE to get exclusive updates that you are interested in
