Brand Finance’s inaugural Energy 100 report reveals the most valuable and strongest oil & gas and utility brands for 2025
LONDON, 4 August 2025 – The collective value of the world’s top 100 most valuable energy brands stands at USD688.6 billion, according to the Energy 100 2025 report from Brand Finance, the world's leading brand valuation consultancy.
USD444.1 billion of this total is attributed to the top 50 oil & gas brands ranked which recorded a 4% year-on-year growth from 2024, while the remaining USD244.5 billion are represented by the top 50 utility brands in the rankings (up 5% from 2024).
Shell (brand value down 10% to USD45.4 billion) retains its position as the world’s most valuable oil & gas brand ranked for the 11th consecutive year. Shell’s continued focus on LNG and gas has positioned the brand well in the growing energy sector. Notably, Shell has also emerged as the strongest oil & gas brand ranked this year with a Brand Strength Index (BSI) score of 87.5/100 and an AAA brand strength rating.
Aramco (brand value at USD41.7 billion) remains as the second most valuable oil & gas brand ranked. The brand continues to have a strong brand rating (AAA-) which has helped its brand value remain stable in the face of declining oil prices driven by a global supply surplus, ongoing geopolitical uncertainties, and shifting energy market dynamics.
PetroChina (brand value up 17% to USD33.3 billion) retained its position as the third most valuable oil & gas brand in this year’s rankings.
In the brand strength analysis, ExxonMobil secured the second position with a BSI score of 85/100 and an AAA brand strength rating, followed by PETRONAS with a BSI score of 83.7/100 and an AAA- rating.
ADNOC (brand value at USD19 billion) has leap-frogged BP and TotalEnergies, into sixth place in brand value with growth of 25%, continuing its rapid rise from outside the top 20 most valuable energy brands in 2017. They also retain their position as fifth strongest brand and Dr. Sultan Ahmed Al Jaber, Managing Director & Group CEO of ADNOC, retains his position as the top ranked brand guardian among global energy brands. The Brand Guardianship Index (BGI) evaluates the efficacy of chief executives in managing and elevating their companies' brands while fostering long-term value creation. Since taking the helm in 2016, Dr. Al Jaber has transformed ADNOC into an advanced and progressive international energy company at the forefront of deploying artificial intelligence (AI) and advanced technology.
Savio D’Souza, Senior Director at Brand Finance, commented:
“This year’s Energy Brands Report highlights the sector’s adaptability and resilience amid a rapidly evolving global landscape. As energy demand accelerates, leading brands are stepping up, aligning growth ambitions with net-zero commitments. The integration of Oil & Gas and Utilities into a unified study reflects a growing convergence in energy narratives, where innovation, clean energy investment, and stakeholder transparency are critical to long-term brand strength."
In the utilities ranking, State Grid Corporation of China (brand value up 20% to USD85.6 billion) remains as the most valuable brand ranked. Its growth is largely driven by increased infrastructure investments, expansions into high-demand regions, and a focus on clean energy deployment.
The Chinese brand also continues to be the strongest utility brand in the rankings with a BSI score of 92.6/100 and an AAA+ brand strength rating. Brand Finance’s market research data shows that State Grid has performed quite well in terms of reliability and popularity within its domestic market.
EDF (brand value up 22% to USD14.3 billion) and Enel (brand value down 4% to USD10.7 billion) are ranked as the second and third most valuable utility brands.
Tenaga Nasional (brand value up 35% to USD2.3 billion) has retained its position as the second strongest utilities brand, achieving an AAA brand strength rating with a BSI score of 88.9/100.
Another Asian brand, PLN (brand value up 30% to USD2.3 billion) is ranked as the third strongest utility brand in the ranking. The brand scored 86.2 /100 for its BSI with a AAA brand strength rating.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
