Source: Al-Bayan Newspaper
Brand Finance, the global brand valuator, has chosen Abu Dhabi National Oil Company (ADNOC) as the first brand in the UAE for the second year in a row.
The value of the ADNOC brand for the year 2020 reached about $ 11.39 billion “41.83 billion dirhams”, an increase of 28.6% compared to the previous year, and an increase of 145% since the launch of its strategy to create a qualitative shift at the group level in 2017, making it the fastest growing brand in the Middle east 2020 and the first Emirati brand to exceed $ 10 billion.
ADNOC has also joined the rankings of the top ten most valuable brands in the world in the field of oil and gas, and His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of State and CEO of Abu Dhabi National Oil Company “ADNOC” and its group of companies, got the highest rating among the heads of the national oil companies, And CEOs in the Middle East
And North Africa, due to its role in promoting the company’s brand and establishing a culture based on improving outstanding performance and enhancing value.
Over the past twelve months, ADNOC has been able to enhance its brand through its commitment to best practices at the group level, and its track record of achievements in the field of health and safety and the environment and its focus on security and safety, and the success of its programs to facilitate local economic growth and foreign direct investment, and promote its brand globally Through initiatives such as the Abu Dhabi International Petroleum Exhibition and Conference, “ADIPEC”, and its sponsorship of the Formula 1 racing championship, and the launch of its promotional campaign for the “Energy for Life” group recently.
The value of a trademark is defined as the net economic return that the owner receives on licensing his trademark on the open market. Brand strength is evaluated through a combination of criteria and factors, including operational and commercial performance, flexibility, shareholders ’equity, commercial performance, and marketing and communication activities. The value of the trademark is used to determine the percentage of the trademark power’s contribution to the company’s revenues.
Founded in 1996, Brand Finance is an independent global organization specializing in brand valuation and strategic consulting for companies. It is headquartered in the financial and business district (City) in the British capital London, and its branches cover more than 20 countries.
Every year, Brand Finance evaluates more than 3,500 brands across all sectors and geographic regions, and over 500 valuable brands are included in the Brand Finance Global 500 list for 2020.