Shell’s resilience: Oil & Gas giant endures transition to retain top brand value ranking

Graphic: Brand Finance

Shell powers on as the world’s most valuable oil and gas brand, according to a new report from Brand Finance, the world’s leading brand valuation consultancy.

Recording a 4% increase in brand value to USD50.3 billion, Shell has remained resilient despite facing challenges such as falling revenues, a decline in enterprise value and a drop in Brand Strength (BSI) score. Brand Finance research shows Shell’s decline in brand strength is primarily caused by lower recommendations, expectations and current revenue.

Elsewhere, Aramco, PetroChina and Sinopec remain in second, third, and fourth, respectively. BP has re-entered the top five, having dropped in the ranking the previous year.

Savio D’Souza, Senior Director, Brand Finance commented: “As Shell continues to uphold its position as the world’s leading Oil & Gas brand, it highlights the remarkable stability of the brand in spite of questions about the long-term corporate strategy of the company. Correspondingly, the top 10 Oil & Gas brands have different views on their role in the energy transition; it remains to be seen which brand positioning drives the optimal value to the respective businesses in the long term.”

QatarEnergy has emerged as the oil and gas sector’s fastest-growing brand, experiencing an 82% brand value surge to reach USD3.2 billion. This growth is largely attributed to the successful integration of Qatargas into the QatarEnergy brand. The strategic rebranding to QatarEnergy LNG has consolidated the brand and underscored its commitment to liquified natural gas (LNG) in the energy transition.

Behind QatarEnergy, Pioneer Natural Resources is the second-fastest growing brand, up 35% to USD4.5 billion, followed by EOG Resources, up 35% to USD3.5 billion. Brand Finance research shows EOG Resources’ growth is fuelled by decentralised exploration efforts, highlighted by discoveries in Ohio Utica Combo, South Texas Dorado, and Southern Powder River Basin. EOG’s focus on multiple prospects underscores its ability to expand its portfolio and boost revenue.

PETRONAS remains the oil and gas sector’s strongest brand, retaining its AAA brand strength rating despite facing significant global challenges. However, according to Brand Finance research, customers are concerned about the reduced value for money amidst higher energy prices, underscoring the need for PETRONAS to carefully manage its pricing strategies to maintain its competitive edge and customer loyalty.