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Adnoc L&S revenues slide but profit remains up
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Adnoc L&S revenues slide but profit remains up
Adnoc Logistics & Services (Adnoc L&S) reported a slip in revenue in the first quarter of 2026 but remained in the black despite the Iran conflict. The company reported lower utilisation and reduced day rates across its floating barges. Revenue fell 10 percent year on year to AED4 billion ($1.1 billion), driven by a 23 percent year-on-year decline in the logistics segment. “Higher global shipping rates helped offset the impact of disruptions to …
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