$14.2 billion brand value in 2023

Brand Finance: ADNOC is the first brand in the UAE

ADNOC maintained its position for the fifth year in a row.

EPA

The Abu Dhabi National Oil Company (ADNOC) has maintained its position as the most valuable brand in the UAE for the fifth year in a row, according to a report issued by Brand Finance, which is an independent global institution specialized in evaluating brands and strategic consulting for companies.

value and strength

The brand value of ADNOC increased by 11% year on year, to reach $14.2 billion in 2023 (compared to $12.8 billion in 2022).

The strength of the “ADNOC” brand also increased from 79.1 points to 79.4 points, and it maintained the “AA+” rating, and rose 28 ranks, to reach the 138th rank among all brands globally (167 in 2022).

As for the oil and gas sector, ADNOC rose one rank, to reach the eighth rank, surpassing Petronas, which fell to the 10th rank.

In terms of brand strength, ADNOC is now the tenth most powerful brand in the oil and gas sector globally, after it was ranked 12th in 2022.

vision and support

The continuous growth in the value of the ADNOC brand came thanks to the vision and directives of the leadership in the UAE, the support of the company’s board of directors, and the efforts and dedication of all its employees, as ADNOC is committed to providing low-emission energy and investing in future new technologies, to consolidate its position as a global provider reliable and responsible energy, enhancing the strength and value of its brand.

ADNOC is among the world's least-emission-intensive oil and gas producers, and continues to take practical steps to enable and accelerate the implementation of its goal of achieving climate neutrality by 2050.

ADNOC is committed to progressive climate action, as the world needs now, more than ever, to adopt a realistic and responsible approach that supports the goals of climate action in parallel with achieving economic development, and ADNOC has made tangible progress in these two tracks.

ADNOC is also the first company in the oil and gas sector to obtain 100% of the needs of its electrical network from electricity produced from nuclear and solar sources that are free of emissions, and the first company to rely on electricity to operate its marine operations to reduce the carbon footprint by up to 50%.

Accelerate investments

ADNOC has allocated $15 billion to promote and accelerate investment in clean energy projects, low-carbon solutions, and emissions-reduction technologies, in line with the legacy of the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, who established the principles of sustainability and responsible production in all sectors. ADNOC's practices and operations, as the company continues to build on this legacy towards a low-carbon future.

ADNOC announces a carbon dioxide injection and capture project

Abu Dhabi, UAE, today /

ADNOC announced, during the Abu Dhabi Sustainability Week, the start of work on developing the first well in the world to inject carbon dioxide and sequester it in the carbonic aquifer.

The company stated that carbon dioxide injection operations are expected to start in the second quarter of 2023, pointing out that the project is an important new step within ADNOC's commitment to reducing emissions in its operations and reducing its carbon emissions intensity by 25% by 2030 to achieve its goal of Achieving climate neutrality by 2050.

Yasser Saeed Al Mazrouei, CEO of ADNOC Exploration, Development and Production, said: “Carbon capture and storage technologies play an important role in reducing emissions and achieving climate action goals, at a time when the world’s first well project to inject and sequester carbon dioxide represents an effective step.” A new part of the company's $ 15 billion plan to reduce emissions.

When it comes into operation, the project will initially contribute to the sequestration of at least 18,000 tons annually of carbon dioxide captured from the operations of the “Vertiglobe” company in the UAE, in the carbon aquifers in the onshore areas of Abu Dhabi, which supports the efforts of “ADNOC” Continuing to capture and store carbon dioxide from its operations in a safe manner.

Brand value

Brand value is defined as the net economic return that the owner receives when licensing his trademark on the open market.

The strength of the brand is assessed through a set of criteria and factors including operational and commercial performance, flexibility, shareholder equity, commercial performance, marketing and communication activities.

Brand value is used to determine the percentage of brand strength's contribution to a company's revenue.

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