ADNOC Gas reported first-quarter earnings that beat analyst estimates despite ongoing disruptions to its export operations caused by the closure of the Strait of Hormuz, according to Bloomberg.
The Abu Dhabi-based energy company is also managing the fallout from recent incidents at its Habshan facility, one of its major natural gas processing complexes. The company said it plans to bring the facility back to 80% capacity by the end of 2026.
Peter van Driel, CFO of ADNOC Gas, spoke to Bloomberg about the export situation, saying the company is ready to resume liquefied natural gas shipments through the Strait of Hormuz as soon as the waterway reopens. The strait is a critical chokepoint for global energy flows, and its closure has added pressure to international oil and gas markets.
The earnings report comes as President Donald Trump said Monday that the US-Iran ceasefire is "on life support," raising further uncertainty about when the strait might reopen. Trump described the ceasefire as "unbelievably weak" and called Tehran's latest counterproposal to end the conflict "garbage," signaling the dispute could drag on. Oil prices rose following those remarks.
ADNOC Gas's ability to post stronger-than-expected results despite the disruption will be closely watched by energy investors as the broader conflict in the Middle East continues to affect shipping routes and commodity pricing.
