Abu Dhabi, January 18 (BNA): In 2023, the Abu Dhabi National Oil Company (ADNOC) maintained its position as the best brand in the UAE for the fifth year in a row, according to a new report issued by Brand Finance, the world’s leading independent brand. Valuation consulting.
ADNOC’s statement on Wednesday said ADNOC’s brand value increased by 11% year-on-year to reach $14.2 billion in 2023.
ADNOC’s Brand Strength Index increased from 79.1 points to 79.4 points, maintaining its brand strength rating of “AA+”. Among all brands globally, ADNOC rose 28 places to 138 from 167 in 2022.
In the oil and gas industry, ADNOC has risen from first to eighth.
In terms of brand strength, ADNOC now ranks as the 10th most powerful oil and gas brand globally, up two places from 12th in 2022, the Emirates News Agency reported.
The continued growth of ADNOC’s brand value is in line with the leadership’s direction, the support of the company’s board of directors, and the efforts and dedication of its employees.
ADNOC is committed to making today’s energy cleaner, while investing in the clean energies of tomorrow, and the company continues to strengthen its position as a reliable and responsible global energy provider.
According to Brand Finance, brand value is the net economic benefits that a brand owner can achieve by licensing the brand on the open market.
Brand value is determined by a balanced scorecard of factors, including marketing investment, shareholder equity, and business performance.
ZHB