Equinor signs $27 bn gas deal

• Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
• Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.

ADNOC Drilling secures $1.15bn contract

• The rigs are expected to commence operations around the end of 2Q 2025, delivering revenue in the second half of 2025 onwards.
• This award further de-risks and reaffirms ADNOC Drilling’s current 2025 and medium-term guidance, the company said.

Etihad Q1 profit $187 million

• Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
• With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.

Yalla Group Q1 revenue $83m

Qatar Airways annual profit $2bn

• Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
• In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.

Masdar issues $1bn bond

• The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375%.
• The bond attracted significant oversubscription with a peak orderbook of US$6.6 billion.

Luberef net profit falls 7% in Q1

• This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
• Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.

SABIC net loss $322 million

• Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
• On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.

PureHealth posts $137m Q1 net profit

• EBITDA grew 5 percent year-on-year to AED 1.1 billion and net profit grew 3 percent year-on-year to AED505 million in Q1-2025.
• haista Asif, Group Chief Executive Officer at PureHealth, commented, “PureHealth’s first quarter results reflect the solid growth witnessed across all core segments."

Borouge Q1 net profit $281 million

• Q1 2025 operational performance remained strong, with production volumes rising 7 percent year-on-year in the first quarter of 2025.
• Revenue in Q1 2025 grew 9 percent year-on-year to $1.42 billion, driven by higher average selling prices and increased sales volumes.