Aramco sits in second as oil and gas brands endure virus dip

Aramco sits in second as oil and gas brands endure virus dip
Aramco sits in second as oil and gas brands endure virus dip

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Aramco maintained its ranking as the world’s second-most expensive and strongest brand among oil and gas companies in 2021 with a value of $37 billion, compared to $46 billion in 2020, according to a report by Brand Finance.

The top 50 oil and gas brands in the world lost 16 percent of value on average as a result of the coronavirus disease (COVID-19) pandemic and a decline in oil prices, according to the annual review.

British-Dutch energy giant Shell topped the ranking, with a value of $42 billion, compared to $47 billion for 2020.

PetroChina followed in third with a value of $31 billion, compared to $38 billion for 2020.

Abu Dhabi National Oil Company ADNOC ranked 10th in the list with a value of $10 billion, dropping from $11 billion in 2020.

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