Brand Finance: Aramco is Middle East’s Most Valuable Brand

Oil and gas giant Aramco has once again been crowned the Middle East’s, and therefore also Saudi Arabia’s, most valuable brand, according to the latest report by leading brand valuation consultancy Brand Finance.

Every year, Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across many sectors and countries. The Middle East’s 150 most valuable and strongest brands are included in a dedicated regional ranking – the Brand Finance Middle East 150 2022.

This year, Saudi Arabia’s national oil company saw its brand value increase by 16% to US$43.6 billion, which sees the brand account for almost as much value as the next five most valuable brands combined in the Brand Finance Middle East 150 2022 ranking. Following a difficult period for the oil and gas sector at the start of the COVID-19 pandemic, oil prices rebounded in 2021, buoyed by the natural gas crisis that saw businesses turn to crude products.

The increase in demand saw Aramco’s third-quarter profits more than triple year-on-year, helping push its market valuation to US$2 trillion. In a sign of confidence and ambition for continued growth, Aramco announced plans to increase its production capacity from 12 million barrels a day to 13 million by 2027. The company has continued to invest heavily in its brand to support growth in both core and growth businesses through a global campaign as well as investments in sports – from Formula 1 to golf.