Abu Dhabi National Oil Company retained its position as the top brand in the UAE for the fourth consecutive year as its group chief executive Dr Sultan Al Jaber was named top oil and gas executive in the world.
A report by global consultancy Brand Finance, which evaluates the world's biggest brands annually, showed Adnoc achieved an “impressive” 19 per cent brand value growth to $12.8 billion, the fastest among the world's top 10 oil and gas brands.
“Adnoc is one of a handful of brands in the sector to see its BSI score rise by +2.0 points, evidenced by its stellar reputation and trust amongst international investors and stakeholders,” said Brand Finance.
Dr Al Jaber, who is also the UAE's Minister of Industry and Advanced Technology, was also the highest-ranked chief executive outside of the US and China-dominated index, ranking 15th overall.
He earned the top ranking “through his continued astute leadership of Adnoc as a global oil and gas player, while ensuring the firm’s sustainable future in a low-carbon economy”, the Abu Dhabi Media Office said on Wednesday.
Dr Al Jaber has been at the helm of Adnoc since 2016. He has led its transformation into a commercially focused international energy group that is committed to playing a major part in the low-carbon economy.
“Aside from his role at Adnoc, [Dr Al Jaber] holds senior positions within the UAE government and is a key figure in promoting the diversification and growth of the UAE economy,” the Brand Finance report said.
In October, Dr Al Jaber, received the Energy Executive of the Year Award for 2021 from Energy Intelligence. He was the 25th recipient of the award.
Previous recipients include Saudi Aramco’s president and chief executive Amin Nasser, Ben van Beurden of Royal Dutch Shell, Bob Dudley, then of BP, Patrick Pouyanné of Total, Khalid Al Falih, now Saudi Arabia's Minister of Investment, and Rex Tillerson, former Exxon chief executive and US secretary of state.
In the overall Brand Finance ranking of 500 global brands, Adnoc climbed to 160th from 163rd.
“With an eye on the future, and in line with the UAE leadership’s 2050 net-zero strategy, Adnoc is also embracing the energy transition through several strategic initiatives,” the report said.
Last year, Adnoc and Taqa joined Mubadala Investment Company to become shareholders in Masdar in a move that will help increase the clean energy company's renewable power capacity to more than 50 gigawatts by 2030. The deal will help create a “global champion in renewables and green hydrogen".
Adnoc also plans an increase in its national reserves of four billion stock tank barrels of oil and 16 trillion standard cubic feet of natural gas, along with capital expenditure of $127bn to boost its upstream production capacity and downstream portfolio.
Overall, the UAE punches well above its weight in the Brand Guardianship Index 2022. The CEOs of the three UAE brands from the Brand Finance Global 500 2022 ranking all feature and record higher scores than last year, with Sheikh Ahmed Bin Saeed Al Maktoum of Emirates (34th) and Etisalat’s Hatem Dowidar (79th) joining Dr Al Jaber in the top 100.
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Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
NATIONAL%20SELECTIONS
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Rajasthan Royals 153-5 (17.5 ov)
Delhi Daredevils 60-4 (6 ov)
Rajasthan won by 10 runs (D/L method)
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Civil%20War
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Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Company%20profile
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
SPECS
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Killing of Qassem Suleimani
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
