Saudi Aramco remains the most valuable brand in the Mideast

Saudi Aramco remains the most valuable brand in the Mideast

JEDDAH: Saudi Aramco has maintained its position as the Middle East's most valuable brand, with the Brand Finance Global 500 2021 report valuing the Kingdom's oil giant at $37.5 billion.

"Aramco is the hidden giant of the oil industry whose brand has finally emerged into the light of public attention. It has always been known as a b2b (business to business) brand but has aspirations to become a well-known consumer brand,“ said David Haigh, CEO of Brand Finance.

"At present, its scale is huge, but its brand equity is at an early stage of development. We believe that over the next decade the brand will grow from strength to strength as it enters the world stage.“

The Abu Dhabi National Oil Company (ADNOC) was the second-most valuable brand in the region, confirming the dominance of the oil sector, despite governments' ambitions to diversify GCC economies away from a reliance on hydrocarbons.

While Aramco retained its number one spot “” despite a 20 percent drop in brand value “” according to the study, ADNOC has managed to successfully maintain its brand value during a challenging year, with only a 6 percent decline to $10.8 billion, making it the most resilient of all national oil companies in