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Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

ADNOC Drilling 9M net profit $568m

ADNOC Drilling reported a net profit of $446 million, up 18 percent year-on-year. (WAM)
  • The third quarter revenue was $372 million, up 33 percent year-on-year.
  • Offshore revenue for the nine-month period was $431 million, broadly flat versus the prior year.

Abu Dhabi, UAE—ADNOC Drilling reported that its net profit for the first nine months of 2022 grew by 24 percent to $568 million, while revenue increased 15 percent to $1.94 billion compared to the same period last year.

Nine-month EBITDA was US$879 million for 2022, up 12 percent year-on-year, at an industry-leading EBITDA margin of 45.3 percent.

Onshore revenue for the nine-month period was $1.074 billion, up 27 percent year-on-year, largely driven by new rigs joining the fleet. The third quarter revenue was $372 million, up 33 percent year-on-year.

Offshore revenue for the nine-month period was $431 million, broadly flat versus the prior year. The third quarter revenue was $143 million and, due to planned maintenance, down nine percent year-on-year.

Offshore Island revenue for the nine-month period was $153 million, similar to 2022 and the third quarter revenue of $52 million was down 14 percent year-on-year due to a one-off claim concluded and recognised in 3Q 2021.

Oilfield Services segment performed very well in the nine-month period, with revenue of $282 million, up 22 percent year-on-year, driven by higher activity from continued expansion