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Abu Dhabi, UAEThursday 4 March 2021

Adnoc group CEO named top oil and gas chief globally for brand stewardship

Abu Dhabi National Oil Company named UAE’s most valuable brand for third consecutive year by Brand Finance

Dr Sultan Al Jaber was ranked 13th globally among chief executives for brand stewardship by Brand Finance. Christopher Pike / The National
Dr Sultan Al Jaber was ranked 13th globally among chief executives for brand stewardship by Brand Finance. Christopher Pike / The National

Abu Dhabi National Oil Company's (Adnoc) group chief executive was named the top oil and gas executive globally for brand stewardship by London-based consultancy Brand Finance.

Dr Sultan Ahmed Al Jaber, who is also the UAE's minister for industry and advanced technology, was ranked 13th globally among chief executives across sectors in the highest ranking attained by a UAE national to date.

Adnoc retained its position as the UAE's most valuable brand in the Brand Finance Global 500 2021 report.

"The resilience of Adnoc's brand value, despite the Covid-19 pandemic, is a testament to the vision of our wise leadership throughout Adnoc's unification and transformation, helping to secure the group’s position as a responsible and sustainable driver of economic growth in the UAE now and for many generations to come," Dr Al Jaber said.

"These accolades are, at the same time, reflective of the significant collective efforts of Adnoc’s workforce, which has shown extraordinary strength, commitment and resilience in maximising our contributions to Abu Dhabi and the UAE," he added. "Today, Adnoc still has much to achieve, and I am grateful for the opportunity to lead this extraordinary organisation through its next phase of growth."

With a brand value of $10.8 billion, Adnoc is the Middle East's second most valuable brand after Saudi Aramco, according to Brand Finance.

Adnoc has been the principal enabler of the UAE and Abu Dhabi success story since its inception just under 50 years ago, according to Brand Finance chief executive David Haigh.

"Since taking the helm, group chief executive Dr Sultan Ahmed Al Jaber has successfully transformed the company into a leaner, more efficient and internationally competitive energy producer," Mr Haigh said.

"Today, Adnoc plays a critical role driving local industry growth, supporting Abu Dhabi’s soft power position globally and advancing the UAE’s sustainable economic development goals."

Adnoc is set to raise the profile of Abu Dhabi and the Gulf through the launch of the futures exchange for Murban crude, the report said.

"Adnoc's enduring brand strength reflects the strength of its reputation as an industry leader in both cost and carbon efficient oil production, a critical driver of innovation and technology in the UAE and a partner of choice for local and international investors," Mr Haigh said.

In the Middle East, energy and telecoms companies in the UAE and Saudi Arabia led the top five rankings for the region's most valuable brands.

The UAE's "world-class brands are helping spearhead global transformation across their respective industries – from Adnoc's innovation in sustainability, Etisalat’s accomplishment becoming the fastest network globally, DP World’s position as a leader in logistics to Emirates flying the flag – quite literally – the world over," Mr Haigh said.

Adnoc, Etisalat and Emirates were among the UAE companies in the brand ranking.

"Recent events have truly demonstrated the nation’s position on the global stage ... the UAE is demonstrating that it is a force to be reckoned with," Mr Haigh said. "We have seen the transformation from desert to Mars – what will the next 50 years hold?”

Published: January 26, 2021 04:01 AM

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