ADNOC Group
The Abu Dhabi National Oil Company (ADNOC) has been named the UAE’s most valuable brand for a second consecutive year by Brand Finance, the world’s leading brand valuation and strategy consultancy.
ADNOC group ’s $11.39 billion (Dh41.83 billion) 2020 brand value, a 28.6 per cent increase over the previous year and a 145 per cent increase since the launch of its transformation strategy in 2017, makes it the fastest-growing brand in the Middle East for 2020 and the first UAE brand to surpass $10 billion in value. For the first time Abu Dhabi National Oil Company also ranks among the world’s top ten most valuable oil and gas brands.
Abu Dhabi National Oil Company chief executive officer Dr. Sultan Ahmed Al Jaber also received the highest ranking among both MENA region CEOs and national oil company CEOs for brand stewardship and brand value creation.
Over the past 12 months, the most significant drivers of Adnoc’s brand value growth included consistency of best practice across the organization, a strong HSE track record and focus on safety, success in facilitating local economic growth and foreign direct investment, and heightened domestic and international awareness through initiatives such as ADIPEC, ADNOC’s Formula 1 sponsorship, and the recent launch of the Group’s first-ever creative campaign “Energy for Life.”
2020 is also set to be another big year for Adnoc, which for the first time will list its Murban crude on a futures exchange market – ICE Futures Abu Dhabi – later this year between the second and third quarter.
The group also announced that its daily oil production output will reach 4 million barrels per day (bpd) in 2020, up from its current production of 3 million bpd.