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ADNOC Gas Delivers Resilient Q2 Net Income, Takes FID on Major Growth Projects

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Delivers net income of $665 million driven by domestic gas demand
Final Investment Decisions on Rich Gas Development project to drive 60% EBITDA growth by 2030
Successfully accelerating Habshan recovery to 85%, ahead of schedule
Quarterly dividend of $940 million approved, with progressive dividend policy reaffirmed

ABU DHABI, UAE, Aug. 10, 2026 /PRNewswire/ — ADNOC Gas plc and its subsidiaries (together referred to as “ADNOC Gas” or the “Company”) (ADX: ADNOCGAS) (ISIN: AEE01195A234) today announced its results for the second quarter of 2026, delivering net income of $665 million, above the guidance range of $400-600 million, despite exceptional external disruption during the period. The Company achieved a significant milestone in executing its long-term growth strategy by taking Final Investment Decisions (FIDs) and awarding engineering, procurement and construction (EPC) contracts for Phases 2 and 3 of its Rich Gas Development (RGD) Project (collectively, the “Contract Awards”).

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “This is a defining moment for ADNOC Gas. With the final investment decision and contract awards for the Rich Gas Development Project, we are not only accelerating one of the world’s largest gas-processing growth programs – we are raising our ambition, targeting 60% EBITDA growth by 2030. These strategic investments will significantly expand our natural gas processing and export capacity, unlock lasting value for our shareholders, and position ADNOC Gas at the heart of the UAE’s energy future. Beyond their economic impact, they safeguard the nation’s energy security, power its industrial growth, and ensure we are ready to meet rising energy demand – at home and around the world.

At the same time, ADNOC Gas delivered resilient second-quarter net income above our guided range, despite a challenging operating environment, reflecting the strength of our business, the discipline of our execution, and the continued delivery of our long-term strategy.”

These investment decisions raise ADNOC Gas’ targeted EBITDA growth to 60%[1] by 2030 versus 2023 – an upgrade from the previously communicated target of more than 40% over 2023-2029. The upgrade reflects the long-term value creation of the Company’s project portfolio and its disciplined approach to capital allocation. ADNOC Gas now expects to invest approximately $28 billion between 2026 and 2030 to deliver this growth ambition.

ADNOC Gas has awarded $8.2 billion in EPC contracts for Phases 2 and 3 of the RGD project – $3.9 billion for Phase 2, to Wison Engineering, and $4.3 billion for Phase 3, to Tecnimont. These contracts build on Phase 1, announced in June 2025, which is expanding key processing units to increase throughput and improve operational efficiency, across multiple gas assets.

Phase 2, to be delivered by Wison Engineering, will add a new natural gas processing train at the Habshan facility, expanding ADNOC Gas’ natural gas processing capacity, enhancing operational flexibility, and supporting the UAE’s expanding downstream and petrochemical sectors. Phase 3, to be delivered by Tecnimont, will add a new natural gas liquids (NGL) fractionation train at Ruwais, increasing the recovery of higher-value liquids from rich natural gas for export, strengthening ADNOC Gas’ global customer portfolio.

Together with the $5 billion committed to Phase 1, the new awards bring total investment in the RGD project to $13.2 billion. It will benefit from higher associated gas volumes as ADNOC progresses towards its production capacity ambitions.

Delivering one of the industry’s largest gas growth programs

ADNOC Gas is executing one of the largest gas growth programs in the industry, spanning four megaprojects – Ruwais LNG, Maximizing Ethane Recovery and Monetization (MERAM), RGD and Estidama – which together are expected to generate $13.4 billion in In-Country Value (ICV), reinforcing the Company’s contribution to the UAE’s industrial development and economic diversification goals. The program continues to progress, with MERAM expected delivery in 2027 and Ruwais LNG and Estidama both advancing as planned. This growth is further underpinned by ADNOC’s continued investment across the gas value chain – including the recently announced Bab Gas Cap and Umm Shaif Gas Cap developments – which will bring more natural gas and associated gas liquids into ADNOC Gas’ integrated value chain, supporting additional feedstock, processing volumes, LNG exports and higher revenue streams.

Scaling AI and robotics across operations

ADNOC Gas is also scaling artificial intelligence and robotics – from aerial drones and four-legged inspection robots to tank-climbing crawlers – across its assets, with the potential to cut inspection costs by up to 75%, complete certain inspections up to 15 times faster and remove personnel from hazardous environments as it advances toward increasingly autonomous operations.

Results Overview

ADNOC Gas delivered net income of $665 million in Q2 2026 – above the upper end of the $400-600 million guidance range provided in the first quarter, reflecting strong operational performance in a challenging operating environment. This was supported by resilient margins in the domestic gas business.

Supported by its robust cash flow from operations, the Board has approved a quarterly dividend of $940 million, payable in September 2026, in line with the commitment to deliver annual dividend growth of 5% through 2030. ADNOC Gas remains the largest dividend payer on the ADX.

Habshan Complex Incidents

ADNOC Gas responded swiftly to the security-related incidents at the Habshan site on 3 and 8 April, prioritizing safety and minimizing disruptions to customers. The Company has concluded its technical assessment of the impact from these incidents and recovery has progressed ahead of schedule, with gas supply already restored to 85%, surpassing the year-end target set in May.

Q3 and Full-Year 2026 Outlook

Continued disruption to maritime movements through the Strait of Hormuz affected product liftings during the second quarter. Through proactive inventory, logistics and supply-chain management, ADNOC Gas worked closely with customers and partners to mitigate the impact of these disruptions, manage temporary constraints and fulfil commitments wherever possible.

For the third quarter, ADNOC Gas expects net income in the range of $600 to $800 million, based on the assumption that maritime routes through the Strait of Hormuz continue to be disrupted. Looking further ahead, if maritime operations are fully restored by the fourth quarter of 2026 and pricing realizations normalize, the Company expects full-year 2026 net income to range from $3.5 to $4 billion.

Cautionary note:

This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of ADNOC Gas. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties (including, but not limited to, disruptions to maritime routes (including the Strait of Hormuz), geopolitical developments, fluctuations in commodity prices and product realizations, operational risks including those related to the Habshan complex, and the timing and execution of major capital projects) that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. ADNOC Gas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or other information. Results could differ materially from those stated, implied, or inferred from the forward-looking statements contained in this announcement. Readers should not place undue reliance on forward-looking statements.

About ADNOC Gas

ADNOC Gas, listed on the ADX (ADX: ADNOCGAS) (ISIN: AEE01195A234), is a world-class, large-scale integrated gas processing and sales company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE’s sales gas needs and supplies end-customers in over 20 countries. To find out more, visit: www.adnocgas.ae

(X) @ADNOCGas

For investor inquiries, please contact: 
Richard Griffith
Vice President, Investor Relations
+971 (2) 6037445
ir@adnocgas.ae 

For media inquiries, please contact: 
Paloma Berenguer
Vice President, Corporate Communications
+971 (2) 6037444
media.adg@adnoc.ae

[1] Based on a Brent crude oil price of $70 per barrel

 

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SOURCE ADNOC Gas

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FatakPay Unveils Next Phase of Growth as India’s Financial Super App, Onboards Vaani Kapoor as Brand Ambassador

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FatakPay’s integrated brand campaign begins its Financial Super App journey, introducing a new brand narrative backed by a comprehensive 360-degree ATL, BTL and digital rollout.

MUMBAI, India, Aug. 10, 2026 /PRNewswire/ — FatakPay today announced the next phase of its growth journey with its evolution into a Financial Super App, marking a strategic expansion beyond instant credit into a broader ecosystem of financial solutions. As part of this transformation, the company has launched its largest integrated brand campaign to date and onboarded actor Vaani Kapoor as its brand ambassador to bring the new positioning to life.

Conceived as a year-long integrated campaign, the initiative will unfold through multiple chapters that progressively introduce consumers to FatakPay’s expanding financial ecosystem. The campaign begins with a strategic focus on higher-ticket personal loans of up to ₹5 lakh for India’s aspirational middle class, with subsequent chapters expanding the brand story as FatakPay introduces consumers to its broader Financial Super App ecosystem.

Speaking about FatakPay’s next phase of growth, Abhishek Gandhi, Co-founder and Chief Business Officer, FatakPay said, “FatakPay was founded on the belief that every Indian deserves access to financial solutions that help them move forward in life. While we began by addressing immediate credit needs, our vision has always been to build a broader financial ecosystem that supports consumers at every stage of their financial journey. Today, we are bringing that vision to life through a Financial Super App that combines borrowing, protection, credit-building and wealth creation on a single platform. This campaign marks the beginning of that journey, introducing consumers to the wider role FatakPay is set to play in their financial lives.”

The campaign opens with an intrigue-led digital rollout before culminating in the launch of the campaign film, where the mystery is finally revealed. Challenging conventional perceptions around borrowing, the film reinforces the idea that responsible borrowing can be an enabler of life’s aspirations. It introduces FatakPay’s expanded personal loan offering while setting the stage for the brand’s broader transformation into a Financial Super App.

Commenting on the campaign, Ashwin Shetty, Head of Branding and Communications, FatakPay, added, “Every brand reaches a point where it needs to reshape consumer perception, and this campaign marks that moment for FatakPay. As our business evolves, we wanted our communication to evolve alongside it. Rather than introducing this shift through a conventional product campaign, we chose to spark curiosity first and let the story unfold organically. Vaani Kapoor’s relatability and strong connect with aspirational India made her the ideal choice to bring this narrative to life while opening conversations around responsible borrowing.”

Marking one of FatakPay’s most ambitious go-to-market initiatives to date, the campaign will be amplified through a comprehensive 360-degree marketing strategy spanning ATL, BTL and digital activations, including OTT, social media, outdoor advertising, influencer collaborations and hyperlocal outreach.

With more than 5 crore customer applications, 3 crore app downloads, and over 25 lakh new users onboarded every month, FatakPay continues to expand access to digital financial services across India. More than 65% of its users come from Tier 2 and Tier 3 markets, reflecting the growing demand for accessible financial solutions beyond India’s largest cities.

Campaign Credits

Campaign Film: https://youtu.be/Ihldgv4M6u0?si=uwYV2v4My-Uv42ln 

Vaani Kapoor IG: https://www.instagram.com/reel/DbXXeuuNBbK/?igsh=MWU3ZmQ1Mm10cjQ2NA%3D%3D
Brand: FatakPay
Brand Ambassador: Vaani Kapoor
Creative & Strategy: FatakPay Branding & Communications Team
Creative & Talent Partner: Tring (B D Innoventures Ltd.)
Media Agencies: To be confirmed

About FatakPay:

FatakPay is a Mumbai-based fintech platform focused on enabling instant, accessible financial solutions for underserved and emerging India. Through its suite of offerings, including instant loans, insurance, investments, and credit improvement tools, FatakPay aims to simplify and expand access to formal finance. Operating through its subsidiaries, FDPL Finance Pvt. Ltd. (an NBFC registered with the Reserve Bank of India) and FatakSecure (an insurance platform aligned with Insurance Regulatory and Development Authority of India guidelines), the company offers products ranging from instant loans of up to ₹20,000 and personal loans of up to ₹5 lakh, to affordable insurance solutions including cancer and accidental coverage. Its ecosystem also includes credit-building tools like FatakUdaan, along with digital investment options such as gold and silver. Founded by Ajit Kumar and Abhishek Gandhi (co-founders of RupeeCircle), along with Amit Lodha and Amit Goyal, FatakPay is committed to building a financially resilient India by empowering users with simple, transparent, and reliable financial solutions.

View original content:https://www.prnewswire.com/in/news-releases/fatakpay-unveils-next-phase-of-growth-as-indias-financial-super-app-onboards-vaani-kapoor-as-brand-ambassador-302846964.html

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Ricoh Hong Kong and Halo Energy Sign Memorandum of Understanding to Build a Smart Mobility Ecosystem and Support Enterprises’ Green Transformation

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HONG KONG, Aug. 10, 2026 /PRNewswire/ — Hong Kong’s electric vehicle market is developing rapidly. As of the end of May 2026, the number of electric vehicles in Hong Kong had increased to approximately 178,000, accounting for around 19.4% of all vehicles in the city. With the Government continuing to promote the adoption of electric commercial vehicles and the development of charging infrastructure, enterprises’ demand for charging management, fleet operations, and carbon emissions data management is also growing. In response to market trends and enterprises’ green transformation needs, Ricoh (Hong Kong) Limited (“Ricoh Hong Kong”) signed a Memorandum of Understanding with local electric vehicle charging solutions provider Halo Energy last month, formally establishing a strategic partnership. By combining their strengths in enterprise digital services, artificial intelligence, and new energy technologies, the two parties will provide Hong Kong enterprises with one-stop smart electric vehicle charging solutions, helping businesses achieve their environmental, social and governance (ESG) goals, accelerate low-carbon transformation, and jointly drive the development of a smart mobility ecosystem.

As ESG becomes an increasingly important agenda for corporate development, market demand for low-carbon operations and green mobility solutions continues to grow. Enterprise electrification is evolving from the question of “whether charging facilities are available” to “how charging resources and energy data can be managed effectively”, covering higher-level requirements such as fleet billing management, energy usage analysis, and carbon reduction performance management. As a leader in digital services and office solutions, Ricoh Hong Kong has long been committed to helping enterprises enhance operational efficiency through digitalization, smart workplaces, and innovative technologies. This collaboration with Halo Energy marks Ricoh Hong Kong’s extension of its service scope from digital transformation to sustainability, and from smart workplaces to smart mobility, providing more comprehensive solutions to support enterprises in achieving their ESG goals.

Mr. Ricky Chong, Managing Director of Ricoh Hong Kong, said: “Ricoh Hong Kong has always believed that corporate transformation goes beyond digital transformation; it also includes sustainability transformation. With the growing adoption of electric vehicles and rising ESG requirements, we are delighted to collaborate with Halo Energy and incorporate smart charging services into Ricoh Hong Kong’s overall solution portfolio. This partnership not only provides customers with more comprehensive value-added services, but also further realizes our vision of building a smart workplace and smart mobility ecosystem, helping enterprises drive green growth through innovative technologies.”

Mr. Martin Tsang, Chief Executive Officer and Founder of Halo Energy, said: “We are very pleased to collaborate with Ricoh Hong Kong once again and establish a strategic partnership. With its extensive customer base and rich service experience, Ricoh Hong Kong has long provided high-quality solutions to enterprises, while Halo Energy is committed to becoming a leading provider of electric vehicle charging services and solutions, focusing on the development of smart charging infrastructure and the advancement of a green energy ecosystem. We firmly believe that by complementing each other’s strengths, both parties can deliver more scalable charging solutions for Hong Kong enterprises and jointly lead Hong Kong towards green transportation and a sustainable future.”

Driving the Adoption of Smart Charging and Helping Enterprises Achieve Green Operations

Through this collaboration, Ricoh Hong Kong will introduce Halo Energy’s electric vehicle charging network and management platform to provide enterprises with diversified charging solutions, including monthly subscription and prepaid charging models, while supporting the centralized management needs of corporate fleets and commercial customers. Halo Energy has already deployed charging facilities at various commercial locations across Hong Kong and continues to expand its charging network coverage, enabling enterprise customers to deploy electric vehicle charging services in a more flexible and cost-effective manner.

In addition, the solution offers enterprise-grade management features, including consolidated billing, shared usage management, and charging data analytics, helping enterprises simplify daily management processes and improve the utilization of charging resources. Looking ahead, both parties will further explore the integration of energy management, data analytics, and intelligent operations technologies to help enterprises gain a more comprehensive understanding of charging usage and energy efficiency, providing more valuable decision-making insights for ESG management, sustainability performance assessment, and carbon reduction strategies.

Halo Energy currently operates more than 160 charging points across Hong Kong and continues to expand its charging network coverage. Through this collaboration, Ricoh Hong Kong will progressively introduce Halo Energy’s charging network resources, allowing enterprise customers to enjoy broader and more convenient charging services. Leveraging Ricoh Hong Kong’s extensive experience in serving local enterprises and organizations, together with its one-stop service capabilities covering consultancy, solution design, project management, and after-sales support, customers will be able to deploy and manage electric vehicle charging solutions with greater confidence and efficiency, taking an important step towards electrification and low-carbon operations.

Looking ahead, Ricoh Hong Kong and Halo Energy will further deepen their collaboration, continue to expand charging network coverage and enterprise application scenarios, and explore the integration of more intelligent management technologies, energy management solutions, and data analytics capabilities into charging services. Ricoh Hong Kong also plans to develop more intelligent AI Agents through its InnoAI Hub platform to help enterprise customers analyze energy usage data and provide insightful operational recommendations, thereby optimizing energy efficiency, reducing operating costs, and lowering carbon emissions. In the future, the company also aims to provide customers with regular energy analysis reports to support the formulation of more comprehensive energy management strategies, enable data-driven decision-making, and accelerate the achievement of ESG and sustainability goals. In line with the Hong Kong SAR Government’s direction of promoting green transport and low-carbon city development, both parties will actively encourage enterprises to adopt new energy solutions, enhance their sustainable competitiveness, and jointly promote smart city and green economy development.

About Ricoh Hong Kong Limited

Established in 1963, Ricoh Hong Kong Limited is a trusted leader in digital services and office solutions. As a pioneer in digital transformation, Ricoh Hong Kong helps enterprises enhance workplace efficiency through five key areas of expertise: hybrid workplace, workflow automation, cloud and IT infrastructure, cybersecurity, and AI applications.

Guided by a spirit of innovation and a customer-centric philosophy, Ricoh Hong Kong brings people and technology together to help enterprises stay ahead in a rapidly evolving digital environment. Through tailored solutions that enhance productivity, agility, and collaboration, Ricoh Hong Kong empowers businesses to navigate change with confidence and move towards sustainable development and digital excellence. The company is committed to helping enterprises “focus on forward”, grow with purpose, and succeed in the future of work.

For more information, please visit: http://www.ricoh.com.hk

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SOURCE Ricoh (Hong Kong) Limited

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Hana Bank Subsidiary GLN Expands QR Payment Network for International Travelers to Korea

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Partnership with Coocon adds 500,000 Seoul Pay merchants, bringing GLN’s QR payment network to approximately 1.5 million merchants across KoreaQR payment transaction volume and value by inbound international travelers increased approximately 1,000% in the first half of 2026 compared with the second half of 2025QR payment usage expands beyond Myeong-dong to emerging shopping districts such as SeongsuMobile QR payment services to be expanded to visitors from the United States, Canada, Singapore, Vietnam and Mongolia later this year

SEOUL, South Korea, Aug. 10, 2026 /PRNewswire/ — GLN International (CEO Lee Suk, “GLN”), a subsidiary of Hana Bank, has expanded its QR payment acceptance network in Korea from approximately 1 million to 1.5 million merchants by integrating with the Seoul Pay network in partnership with Coocon. As a result, visitors to Korea can now use QR payments at even more merchants in Seoul while retaining access to GLN’s existing nationwide merchant network across major tourist destinations, including Busan and Jeju.

Seoul Pay is a QR-based payment service introduced to reduce payment processing costs for small businesses. As an open payment platform, it enables multiple domestic and international payment services to operate through a single standardized QR code.

Beginning August 3, GLN secured access to approximately 500,000 Merchant Presented Mode (MPM) QR merchants through a partnership with Coocon, the operator of Seoul Pay. Combined with approximately 1 million Customer Presented Mode (CPM) QR merchants built through partnerships with Hana Card and other payment providers, the expanded network enables international visitors to make QR payments using their existing banking or fintech apps from their home countries — without exchanging currency or carrying physical payment cards.

GLN’s transaction data shows that QR payment usage by inbound international travelers increased significantly during the first half of 2026 compared with the second half of 2025. Both transaction volume and transaction value through GLN’s QR payment network grew by approximately 1,000%.

The company began expanding its nationwide QR payment network in the second half of 2025 by launching Hana Card QR merchants and integrating with payment terminals operated by Toss and Naver Pay, securing approximately 1 million QR payment merchants. With the addition of Seoul Pay’s merchant network, the total number of QR payment merchants has increased to approximately 1.5 million, further accelerating QR payment adoption among international visitors to Korea.

Spending patterns among international travelers are expanding beyond the traditional shopping district of Myeong-dong to emerging commercial areas such as Seongsu. QR payment usage has grown significantly at popular retail brands in Seongsu, including Musinsa, Daelim Warehouse, Blue Elephant, NyuNyu, rom&nd and Ready Young Pharmacy.

QR payment usage has also increased across merchants frequently visited by international travelers, including Shinsegae Duty Free, Galleria Department Store, Daiso, as well as convenience stores, fashion retailers, restaurants and cafés, and the Seoul Metropolitan Subway.

In addition, international visitor spending is expanding beyond Seoul to major tourism destinations such as Busan and Jeju. As demand for Korea’s beauty and medical tourism continues to grow, QR payment usage has also increased rapidly at dermatology clinics, plastic surgery clinics and pharmacies in these regions.

GLN currently provides QR payment services for visitors from Taiwan (China) and plans to expand the service to travelers from the United States, Canada, Singapore, Vietnam and Mongolia later this year. By 2027, the company aims to extend the service to more than 10 countries while expanding its QR payment merchant network in key tourist destinations such as Busan and Jeju, making it easier for international travelers to pay seamlessly across Korea.

“We will continue expanding our QR payment merchant network to provide inbound international travelers with a simple and convenient payment experience while contributing to the growth of local businesses and Korea’s tourism industry,” said Lee Suk, CEO of GLN.

GLN also provides outbound Korean travelers with QR payment and QR cash withdrawal services in 15 countries, including Vietnam, China, Thailand, the Philippines, Laos, Japan and Indonesia. Supported by a global network of more than 230 million QR merchants, GLN continues to strengthen its position as one of Asia’s leading cross-border QR payment platforms.

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SOURCE GLN International

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