According to the latest survey conducted by Brand Finance, Abu Dhabi National Oil Company (Adnoc) has emerged as the most valuable brand in the United Arab Emirates for the second year on the trot, and for the first time, it also features among the ten most valuable oil and gas brands.
Meanwhile, Etisalat has held on to its crown as being the most valuable B2C brand in the Middle East and Africa for the third year in a row.
According to the London-based leading brand valuation and strategy consultancy firm, the state-controlled oil giant’s brand value leaped to $11.39 billion this year, a growth of about 29 percent as compared to last year.
This has resulted in Adnoc emerging as the first UAE brand to surpass $10 billion in value, while also having the distinction of becoming the quickest-expanding brand in the Middle East and North Africa (MENA) in this year.
The brand valuation and consultancy titan disclosed its Brand Finance Global 500 report at the World Economic Forum in Davos, US, where the chief executive of Brand Finance David Heigh said that the Middle East region is a haven to an increasingly large number of globally renowned brands.
He indicated that since 2007, when Brand Finance conducted its maiden Global 500 survey, these brands have been rapidly rising in their positions, which can be attributed to the astute management that are at the helm of these brands.
Dr Sultan Ahmed Al Jaber, the chief executive of Adnoc Group secured the highest position among MENA region CEOs and state-owned oil firm CEOs for brand stewardship and brand value creation.
Making up 4 percent of the world’s crude oil generation, a large portion of the UAE’s oil output emanates from the facilities belonging to and run by Adnoc in the capital city of Abu Dhabi.