The Abu Dhabi National Oil Company (ADNOC) has been named as the most valuable brand in the Middle East by brand consultancy Brand Finance.
ADNOC is the first regional oil and gas company to be featured in the annual Brand Finance Global 500 report, with a valuation of $8.9 billion.
It is one of only five Middle East brands included in the list, which also featured Emirates airline and Etisalat.
“ADNOC has been undergoing a significant business transformation, underpinned by innovative partnerships and investments that are key to unlocking and maximizing value across our full portfolio,” said UAE Minister of State and ADNOC Group CEO Dr. Sultan Ahmed Al Jaber.
Al Jaber added that “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.”
Over the last two and a half years, ADNOC has consolidated its business and unified its brand identity, entered the capital global markets for the first time, launched the first ever IPO of an ADNOC business, opened concessions to new partners, embarked on a digital transformation and competitively tendered new exploration blocks.
“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. “Its debut in our ranking of the world’s top 500 most valuable brands, and as the most valuable Middle East brand, is a testament to its on-going commitment to becoming the National Oil Company brand of the future and its role as a powerful catalyst for economic growth, diversification, in-country value creation and foreign direct investment into the UAE.”For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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