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Story summary
- ADNOC Gas, Abu Dhabi's gas producer, reported a record net profit of $5.2 billion for 2025, as revenue fell 4% to $23.47 billion.
- The company is shifting from cash generation to capital investment, with expenditures nearly doubling to $3.6 billion.
- Analysts warn that rising costs and market cycles could threaten the balance of the $3.584 billion dividend for 2025, which increases 5% annually, underscoring governance needs within a state-directed framework.
