Shell, valued at US$48,2 billion, plans to get every last drop of its oil out of Brazil. The multinational has 14 active platform ships and another 3 already contracted

The brand valuation consultancy Brand Finance released its Oil & Gas 50 2023 ranking, which ranks the 50 most valuable and strongest oil and gas brands in the world. According to the ranking, Shell was named the world's most valuable oil and gas brand for the ninth consecutive year.

According to Brand Finance, brand equity is understood as the net economic benefit that its owner would obtain by licensing it on the open market. About that, Brand strength is represented by the effectiveness of its performance on intangible measures relative to its competitors.

Despite suffering a 3% reduction in brand value, Shell maintained its position as the world's most valuable oil and gas brand, with a value of US $ 48,2 billion. Meanwhile, Saudi Arabia's oil and gas giant Aramco narrowed the gap between itself and Shell with a brand value that rose by 4% to US $ 45,2 billion.

Record year in oil and gas industry profits

Savio D'Souza, Director of Valuation at Brand Finance, said: “The oil and gas industry had a record year in terms of profits and cash flow driven by the recovery from the pandemic and geopolitical uncertainty. Geopolitics and economic uncertainty are likely to play a role in the year ahead as well.”

“The challenge for oil and gas brands will be to optimize their brand and business positioning for the global energy transition while balancing their responsibility to supply accessible energy to the world,” he added.

Petronas is again named the world's strongest oil and gas brand

Still according to Brand Finance, it can be said that Petronas is again the strongest oil and gas brand in the world, a title it has held since 2020. Despite its brand value declining by 7% to $12,7 billion, the company's Brand Strength Index (BSI) score rose two points to 89 out of 100 in 2023, earning it a corresponding AAA rating.

When it comes to emerging companies, the Qatargas – with a brand value that rose 147% to $3,1 billion – is the oil and gas brand fastest growing in the world, as well as the fastest growing brand across all industries in the Middle East by 2023, according to Brand Finance research. The consultancy reveals that Qatargas, a company owned by QatarEnergy, is one of the world's leading brands in gas production.