ADNOC Recognised Middle Easts Most Valuable Brand
Abu Dhabi, UAE, January 22, 2019: The Abu Dhabi National Oil Company (ADNOC) has been named the most valuable brand in the Middle East, by Brand Finance, the worlds leading brand valuation and strategy consultancy.
ADNOC, is the first regional oil and gas company to be featured in the annual Brand Finance Global 500 report with a brand valuation of US $8.9 billion (AED 32.69 billion). It is one of five Middle East brands included in the list of the worlds 500 most valuable brands.
His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO said: In line with the leaderships guidance, ADNOC has been undergoing a significant business transformation, underpinned by innovative partnerships and investments that are key to unlocking and maximizing value across our full portfolio.
ADNOCs transformation and growth strategy has been supported by transparent, proactive and strategic communications and marketing, which have played a critical role in reinforcing the scale of our business, the size of our contribution to the UAEs economy, and the extent of our impact on the global oil and gas industry.
This honour is a well-deserved recognition of the hard work and dedication of all our employees who are reshaping the company, as we forge ahead with our integrated 2030 growth strategy and further unlock, enhance and create value from all our resources, H.E. Dr Al Jaber added.
In addition to ADNOC, two other UAE brands, Etisalat and Emirates, are included in the Brand Finance Global 500 list which is headed by Amazon and also includes IBM, Shell, Mercedes-Benz, Samsung and Chinas State Grid, Asias most valuable B2B brand.
David Haigh, CEO of Brand Finance, said: As ADNOC leverages the opportunities being created by the evolving energy market, its brand value has demonstrated significant growth. Its debut in our ranking of the worlds top 500 most valuable brands, and as the most valuable Middle East brand, is a testament to its on-going commitment to becoming the National Oil Company brand of the future and its role as a powerful catalyst for economic growth, diversification, in-country value creation and foreign direct investment into the UAE.
Over the last two and half years, ADNOC has:
Consolidated our businesses and unified our brand identify
Entered the global capital markets for the first time
Launched the first ever IPO of an ADNOC business
Opened-up concessions to new strategic partners
Competitively tendered new exploration blocks
Embarked on a comprehensive digital transformation
Taken its first steps to expand internationally
Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is assessed through a balanced scorecard of factors, including marketing investment, stakeholder equity, and business performance, and is used to determine what proportion of a businesss revenue is contributed by the brand.
Founded in 1996, Brand Finance is the worlds leading independent branded business valuation and strategy consultancy. Headquartered in the City of London, we are present in over 20 countries. Every year Brand Finance values over 3,500 brands across all sectors and geographies. The 500 most valuable brands are included in the Brand Finance Global 500 2019 league table.
