The Abu Dhabi National Oil Company (ADNOC) has been named the most valuable brand in the Middle East by Brand Finance, the world’s 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 $8.9bn. It is one of five Middle East brands included in the list of the world’s 500 most valuable brands.
“ADNOC’s 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 UAE’s economy, and the extent of our impact on the global oil and gas industry," said Dr. Sultan Ahmed Al Jaber, ADNOC Group CEO.
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 China’s State Grid, Asia’s most valuable B2B brand.
“As ADNOC leverages the opportunities being created by the evolving energy market, its brand value has demonstrated significant growth," said Brand Finance CEO David Haigh.
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 business’s revenue is contributed by the brand.
Founded in 1996, Brand Finance is the world’s 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.