Abu Dhabi’s main gas company, ADNOC Gas, has presented its financials. Again, the gas giant is being sold to investors as the perfect Gulf utility, based on its scale, stability, and domestic demand, and especially on its dividend stream, engineered to feel more like a sovereign coupon than an equity risk. The numbers definitely support the story, as the company’s record full-year net income in 2025 is $5.2bn, which is an increase of 3% in comparison to FY2024. These impressive figures are even more positive when you consider that its…