Abu Dhabi National Oil Company “ADNOC” maintained its position as the most valuable brand in the UAE for the third year in a row in 2021, according to a report issued by “Brand Finance”, which is an independent global organization specializing in brand evaluation and strategic consulting for companies.
The ADNOC brand was valued at $ 10.8 billion (AED 39.7 billion), which puts it in second place among the brands in the Gulf Cooperation Council countries and within the list of the top ten brands ranked at the level of international oil and gas companies.
Dr. Sultan bin Ahmed Al Jaber, CEO of ADNOC Group, was ranked first among CEOs in the Middle East region, first among CEOs in the oil and gas sector worldwide, and 13th among CEOs worldwide in all different sectors. , Which is the highest ranking for a CEO from the UAE at the global level so far.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and CEO of the Abu Dhabi National Oil Company (ADNOC) and its group of companies, said: “This achievement comes as a result of the vision and wisdom of the wise leadership in the UAE, which has directed us to implement the qualitative shift that ADNOC has witnessed over the past years. Which enabled us to overcome the challenges of the “Covid-19” pandemic, preserve the brand’s position of ADNOC, and strengthen its role as an essential and important engine for economic growth in the UAE. This classification also reflects the combined efforts of ADNOC’s work teams, which have shown high commitment and flexibility that have contributed to enhancing our contributions to advancing sustainable development in the Emirate of Abu Dhabi and the UAE. We still have a lot to do with ADNOC to deliver and accomplish, and I am proud of my role with my colleagues in managing the company and the growth and success it is achieving. “
Trademark value is defined as the net economic return that the owner receives when his trademark is licensed in the open market. Brand strength is assessed through a set of criteria and factors that include operating and business performance, resilience, equity, commercial performance, marketing and communication activities. Brand value is used to determine the percentage of the brand’s power contribution to the company’s revenue.
Over the past twelve months, ADNOC has been able to maintain its brand rankings through its commitment to best practices at the group level, its record in the field of health, safety and environment and its focus on security and safety in the face of the challenges posed by the “Covid-19” pandemic, in line with procedures and instructions. Applied in the UAE, and the success of its programs to enhance the local added value and attract foreign direct investments.
It is worth noting that ADNOC is working on implementing an ambitious strategy for smart growth through which it aims to maximize the utilization of hydrocarbon resources in the Emirate of Abu Dhabi, enhance value, increase profitability and economic return for the UAE, by increasing exploration, development, production and expansion activities in the areas of marketing and supply. And trading, refining and petrochemicals.
The Abu Dhabi Supreme Petroleum Council approved ADNOC’s plan to increase its capital investments to 448 billion dirhams over the next five years to enable the implementation of its integrated strategy for smart growth 2030.