The annual report on the most valuable Norwegian brands.
At the start of 2018 Statoil was Norway’s most valuable and strongest brand with a value of NOK65.4 billion and an elite AAA brand rating, according to the latest report by Brand Finance, the world’s leading independent brand valuation and strategy consultancy. Statoil enjoyed a strong year of brand value growth due to higher global oil prices leading to increased revenue forecasts, and relatively strong workplace safety results over the last year.
Name is an important part of brand, but it is not everything. Statoil became Norway’s most valuable and strongest brand because it was recognised as a trusted partner, delivering on its promise. Built upon the solid foundations of its oil business, the company now faces a challenge of transferring that equity to a new brand, encompassing a more diversified business portfolio. If the new brand is implemented well, it will help Equinor achieve long-term success, even if the rebranding process itself causes some initial erosion of the brand’s strength and value.David Haigh, CEO, Brand Finance