Abu Dhabi: The Abu Dhabi National Oil Company (Adnoc) has been named the most valuable brand in the Middle East by brand valuation and strategy consultancy Brand Finance.

Adnoc is the first regional oil and gas company to be featured in the annual Brand Finance Global 500 report with a brand valuation of $8.9 billion (Dh32.69 billion), according to a statement from Adnoc on Tuesday. It is one of five Middle East brands included in the list of the world’s 500 most valuable brands.

In addition to Adnoc, two other UAE brands, etisalat and Emirates, are included in the Brand Finance Global 500 list which is headed by Amazon and also includes IBM, Shell, Mercedes-Benz and Samsung, among others.

“This honour is a well-deserved recognition of the hard work and dedication of all our employees who are reshaping the company, as we forge ahead with our integrated 2030 growth strategy and further unlock, enhance and create value from all our resources,” said Dr Sultan Ahmad Al Jaber, UAE Minister of State and Adnoc Group CEO.

Over the last two and half years, Adnoc has achieved a number of milestones including the launch of the first ever IPO of an Adnoc business, opened-up concessions to new strategic partners and competitively tendered new exploration blocks. The company is also planning to expand internationally with new investments in key markets.