Brand Finance, the global brand valuation agency, has chosen Abu Dhabi National Oil Company (ADNOC), the first brand in the UAE, for the second year in a row.
The value of the "ADNOC" brand for the year 2020 was about $ 11.39 billion (41.83 billion dirhams), an increase of 28.6% compared to the previous year, and an increase of 145% since the launch of its strategy to create a qualitative shift at the level of the group in 2017, making it the fastest brand Growth in the Middle East for 2020, and the first Emirati brand to exceed $ 10 billion (30.72 billion dirhams).
World ranking
A statement issued yesterday stated that "ADNOC" has also joined the rankings of the first 10 most valuable brands in the world in the oil and gas field, and the Minister of State and CEO of ADNOC and its group of companies, Dr. Sultan Ahmed Al-Jaber, received the highest rating among the heads of companies National Oil, and CEOs in the MENA region, for its role in promoting the company's brand, and in establishing a culture based on improving outstanding performance and enhancing value.
best practices
According to the statement, ADNOC has been able, over the past 12 months, to enhance its brand through its commitment to best practices, its track record of achievements in the field of health and safety and the environment, its focus on security and safety, and the success of its programs to facilitate local economic growth and foreign direct investment, and promote its brand Commercially, through international initiatives, such as the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), and sponsored by the Formula 1 racing championship, and the launch of its promotional campaign for the "Energy for Life" group recently.
Brand Finance
Founded in 1996, Brand Finance is an independent global organization specializing in brand valuation and strategic business consulting. Its headquarters are in the City and City business district of London, and its subsidiaries cover more than 20 countries. "Brand Finance" annually evaluates more than 3,500 brands in all sectors and geographical regions, and more than 500 valuable brands are included in the "Brand Finance Global 500" list for 2020.
Brand value
The value of a trademark is defined as the net economic return that an owner receives when licensing his trademark on the open market. Brand strength is evaluated through a combination of criteria and factors, including operational and commercial performance, flexibility, shareholders ’equity, commercial performance, and marketing and communication activities.
The value of the trademark is used to determine the percentage of the trademark power's contribution to the company's revenues.
ADNOC joins the list of the top 10 brands in the world in the field of oil and gas.