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Shell named world's most valuable oil and gas brand

10/04/2019
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Shell has retained its title as the world’s most valuable Oil & Gas brand according to a new report from brand consultancy Brand Finance. Shell’s brand value grew by 7% over the past twelve months whilst new entrants into the list include UAE’s ADNOC.
Shell has retained its number 1 position as the world's most valuable oil and gas brand
The 7% brand boost to Shell, the world’s 26th most valuable brand across all industries, has meant the Dutch giant has retained its status at the top of the Brand Finance Oil & Gas 50 rankings. The boost was primarily driven by spikes in oil prices, leading to increased revenue forecasts and therefore higher brand values.

Of the three Chinese brands ranked in the Brand Finance list, PetroChina (brand value up 18% to US$36.8 billion) held firm in second place, with fellow Chinese brand Sinopec (up 23% to US$29.1 billion) recording strength in its upstream and refining business.

In 4th place, French brand Total has seen a 20% growth in brand value since last year, reaching a value of US$25.2 million. The major energy player is seen to be at the forefront of embracing new technologies, having last year announced a partnership with Google Cloud to jointly develop AI technologies for support in exploring and assessing oil and gas fields.

Defending its 5th place rank, BP (up 16% to US$22.7 billion) has returned to steady growth since the 2010 Deepwater Horizon incident in the Gulf of Mexico. Under the new leadership of Mr. Helge Lund, BP is prioritising the transition towards cleaner energy and aligning and corporate strategy that is fully consistent with the goals of the Paris Agreement.

The new entrant to this year’s Top 50 list, in twelfth place, is ADNOC, the state-owned oil brand of the United Arab Emirates (UAE).  The company has had a remarkable few years, during which 13 entities were rebranded, covering Oil & Gas, shipping, and logistics. ADNOC now boasts a brand value of US$8.9bn.
The 10 most valuable Oil & Gas brands of 2019
(The 10 most valuable Oil & Gas brands of 2019. Image via Brand Finance).

A respected industry

As well as assessing the value of individual brands, the Brand Finance report also examined the reputation of the Oil & Gas industry as a whole, the conclusion being that Oil & Gas brands are ‘respected, if not loved’.

The report states that:

‘Oil and gas brands are reasonably well-respected in most markets, if not exactly loved by consumers. With a mid-table ranking for overall reputation, oil and gas brands generally attract less outright negativity and frustration compared with banks, telcos and (in many markets) utility firms. Customers are rarely let down by brands in this sector, and perceptions of quality are reasonably high’.

‘But if there is less hostility that might be expected, there is equally relatively little emotional attachment either, and in most cases consumers appear to have a somewhat functional relationship with these brands. Scores for ‘closeness’ are generally mediocre, and no brand stands out’.

As we’ve written previously here on EngineeringPro, these perceptions have an adverse impact not only amongst consumers, but amongst potential employees for the Oil & Gas industry.
To solve this problem, the industry must repair perceptions and engage in positive advocacy to attract new talent.

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Tags: Oil & Gas
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Hi Team, Could you please help me on this issue? I'm looking for new opportunity : I'm a Technical Engineer in Oil & Gas industry Materials Technician (Upstream, Midstream and Downstream) with 9 years experienced Materials Management, Safety, QA/QC and more. Regards-Domingos.
Domingos Ndundo, 23 April 2019
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Shell named world's most valuable oil and gas brand - Time to read 3 min
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