Petronas tops 2020 oil and gas brand strength ranking
Malaysia’s national oil and gas company has steadily risen through the ranks of oil and gas brands, rising from 10th place in 2015 to the top spot in 2020, according to brand valuation authority Brand Finance. Measured on the Brand Strength Index which is scored out of 100, this is judged on a brand’s performance on intangible measures relative to its competitors, according to Brand Finance.
Each brand is assigned a BSI score out of 100, which is fed into the brand value calculation. Based on this score, the brand is assigned a rating, up to AAA+, in a format similar to a credit rating, Brand Finance says. Here, Petronas scored 86.3 on the BSI for 2020, an increase of 0.1 from its 86.2 score last year, maintaining its AAA rating.
Petronas takes over the top spot from last year’s first-placed Gazprom of Russia, which dropped to third place this year with a BSI of 84.3. Ranked second for this year is Shell, which improved its ranking with a BSI of 85.9 this year over its 2019 BSI score of 80.7, and a rating upgrade from AAA- to AAA.
In fourth and fifth places respectively are Luk Oil and the PTT Group in the ranks of oil and gas brands, which effectively swapped places from their 2019 rankings. For 2020, Luk Oil scored a BSI of 83.8 compared to 2019’s score of 84.5, maintaining its AAA- rating, while PTT Group scored a BSI of 83.5 compared to last year’s score of 84.8, resulting in a rating drop from AAA to AAA-.
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