Adnoc Distribution's second-quarter profit nearly doubles to $358 million

Adnoc Distribution, the UAE's largest fuel and convenience retailer, said in a filing to the Abu Dhabi Securities Exchange on Wednesday, August 5, 2026 (14 Mordad 1405), that its second-quarter 2026 net profit rose 94 percent year on year to Dh1.31 billion ($358 million). Revenue for the quarter rose 53 percent to Dh13.2 billion. The company also posted record first-half net profit of Dh2 billion ($545 million), up 58.5 percent, with revenue rising 29 percent to Dh17.1 billion ($4.66 billion). Its fuel retail network expanded to 1,045 service stations across the UAE, Saudi Arabia and Egypt, with record volumes of 7.75 billion litres sold. Adnoc Distribution also announced it had agreed to acquire 100 percent of Shell Downstream South Africa for approximately $1 billion, a deal expected to boost annual sales volumes by 20 percent once it completes in 2027. Chief executive Bader Al Lamki said the company delivered a record performance in the first half of 2026 despite a dynamic macroeconomic environment.