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ADNOC completes $2.84bn offering of ADNOC Gas shares

Gas
February 21, 2025

Abu Dhabi National Oil Company (ADNOC) has announced the final offer price and completion of the offering to institutional investors of 3.1 billion ordinary shares in ADNOC Gas.

The offering, which raised gross proceeds of approximately $2.84bn (equivalent to approximately AED10.4bn), saw strong demand from institutional investors in the GCC and internationally, with more than four-times oversubscription.

Shares were priced at AED3.40, approximately 43% above the Initial Public Offering (IPO) price of AED2.37 per share and represents a competitive 5% discount to the company’s closing share price of AED3.58 on 20th February. Settlement of the offering is expected to occur on or around 26th February 2025.

ADNOC Gas generated an adjusted net income of $5bn (the highest since its IPO) in 2024, with a net income of $1.38bn in the fourth quarter.

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Gas
August 24, 2026

Lithuania approves EIA programme for Klaipėda CO2 terminal

By 53 min ago 2 min read Lithuania’s Environmental Protection Agency has approved the Environmental Impact Assessment (EIA) programme for a planned carbon dioxide (CO2) transshipment terminal in Klaipėda, marking…

Gas
August 24, 2026

US brewery records $100,000 loss from CO2 supply shortages

By 28 min ago 3 min read The president of a major US craft brewery has described how CO2 shortages and supply uncertainties led to $100,000 in lost revenues. Speaking…