ADNOC named as the most valuable brand in UAE, 9th Globally; Report

By Arya M Nair, Official Reporter
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Abu Dhabi National Oil Company (ADNOC) has retained its position in 2022 as the UAE’s most valuable brand for the fourth consecutive year, according to a new report from Brand Finance, the world’s leading independent brand valuation consultancy.

ADNOC’s $12.76 billion brand value witnessed a 19 percent increase over the previous year and a 174 percent increase since 2017, said ADNOC. The company is the most valuable brand in the UAE, the second most valuable brand in the Middle East and North Africa (MENA), and the ninth most valuable brand in the global Oil and Gas (O&G) industry.

Dr. Sultan bin Ahmed Al Jaber, Managing Director and Group CEO of ADNOC, was also named No. 1 among all O&G CEOs globally for the second consecutive year, and number one in the UAE and the Middle East.

The key factors in ADNOC’s brand value growth over the last 12 months were its consistency in expanding responsibly and completing several milestones within its new energy strategy to develop its partnerships in clean and renewable energy and hydrogen.

Its commitment to best practices and track record in the field of Health, Safety, and the Environment (HSE), as well as the performance of its program to boost local added value, attract foreign direct investment, and improve the country’s reputation as a preferred investment destination, were also among the factors which made it to the top brand valuation.

Several development initiatives were implemented during this paradigm shift, including the development of a new approach to smart partnerships, the creation of investment opportunities to attract foreign capital, the launch of a successful program to enhance in-country value, and the execution of three successful IPO subscriptions to ADNOC Distribution, ADNOC Drilling, and Fertiglobe, among others.

In line with the leadership directives, Dr. Al Jaber is working to promote the country’s proactive approach and its effective contribution to global efforts to reduce climate change, adapt to its repercussions, and consolidate the country’s leading position in the field of climate action.

Related: ADNOC awards $946mn offshore contract to NPCC for Umm Shaif field