Petronas has maintained its position as the most valuable ASEAN brand in the Brand Finance Global 500 report this year, in news first reported by Bernama.
Petronas remains among the top 10 oil and gas brands globally.
Petronas said in a statement that Petronas’ Brand Strength Index (BSI) – which is judged on its performance regarding intangible measures relative to its competitors – increased from 87 in 2021 to 87.7 in 2022, resulting in its ranking as the top ASEAN brand.
Brand Finance attributes Petronas‘ position to its consistent brand performance, contributing to a brand value of USD 13.6 billion in 2022 from USD 12 billion in 2021, an increase of 13 per cent.
As the world starts to bounce back from the pandemic, a rise in energy demand has enabled Petronas to cement its position within the oil and gas sector.
Brand Finance considers three key components in calculating a brand’s value – a brand’s strength, business, and economic outlook.
President and group chief executive officer Datuk Tengku Muhammad Taufik commented on the news saying, “Petronas is grateful for the continued recognition as the most valuable ASEAN brand.
“This recognition is a strong testimony to Petronas’ ongoing efforts to fulfil its purpose, namely to become a progressive energy and solutions partner. “We remain fully committed to providing our customers with access to energy that is cleaner, affordable and secure as we enrich lives for a sustainable future.”