ABU DHABI - ADNOC maintained in 2023 its position as the UAE's most valuable brand for the fifth consecutive year, according to a new report from Brand Finance, the world's leading independent brand valuation consultancy.

ADNOC's brand value increased by 11% year-on-year to reach $14.2 billion in 2023, an ADNOC statement said on Wednesday.

ADNOC Brand Strength Index increased from 79.1 points to 79.4 points, maintaining its “AA+” rating. Globally amongst all brands, ADNOC climbed 28 places to 138th place from 167th in 2022.

Within the oil and gas industry, ADNOC rose one rank to 8th place.

In terms of brand strength, ADNOC is now the 10th strongest oil and gas brand globally, up two places from 12th in 2022.

The continuous growth of ADNOC's brand value aligns with the leadership directives, the support of the company’s board of directors, and the efforts and dedication of its employees. ADNOC is committed to making today's energy cleaner, while investing in the clean energies of tomorrow and the company continues to strengthen its position as a reliable and responsible global energy provider.

According to Brand Finance, brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand value is determined through a balanced scorecard of factors, including marketing investment, stakeholder equity, and business performance.