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BrandZ Top 100 2011: SECTORS/COMMENTARY 64Oil & GasDisaster revealed resilienceThe big story, of course, was theBP disaster – the tragic DeepwaterHorizon accident and its impact onthe environment, the local economyand the lives of individuals.The disaster highlighted the importance and thevulnerability of brands in a category where brandcontribution to brand equity traditionally has been low.Oil and gas companies explore the world’s remaining oilreserves, often located in extreme environments milesbelow the ocean floor. Proven competence and brandstature is critical for convincing governments to grantexploration rights and for influencing regulators. The BPdisaster undermined this agenda.It also reminded oil companies to cultivate broadersupport by addressing the contradictory consumermessages: respect the environment, energize our liveswithout interruption, and keep fuel prices low. Each brandattempted to explain this energy paradox more openly,while making an argument for its particular approach toreconciling the seemingly irreconcilable.Exxon’s communications continued to focus onoperational excellence. Shell launched a global corporatecampaign with the strapline “Let’s Go,” emphasizingworking collaboratively with partners and end users tofind answers to the energy challenge.Chevron’s “We Agree” campaign suggested thatcompany and consumer are on the same side of themulti-faceted energy issue. Ironically, BP may have beenthe most brand-conscious and differentiated brandbecause of its Helios logo and related emphasis oncorporate responsibility.Brand is especially critical for publicallyowned oil companies becausethey compete against state-ownedorganizations that operate in a differentregulatory environment and control mostof the world’s oil business. Projectsavailable to publically owned companiesgenerally require deep water drilling ormeeting other challenges that entail themost expense and risk.TOPBRANDSBrand Value$MBrandContributionBrandMomentumBrand ValueChange1 ExxonMobil 16,973 1 8 10%2 Shell 15,168 1 5 0%3 Petrobras 13,421 1 7 39%4 BP 12,542 1 5 -27%5 PetroChina 11,291 1 10 -19%6 Chevron 8,120 1 8 12%7 Gazprom 6,849 1 7 24%8 ConocoPhilips 6,486 1 6 21%9 Lukoil 5,792 1 10 N/A10 Total 5,262 1 7 -25%Source: Millward Brown Optimor(including data from BrandZ and Bloomberg)OIL & GASUP 1%
65 BrandZ Top 100 2011: SECTORS/COMMENTARYBrandZ Top 100 2011: SECTORS/COMMENTARY 66Relative to the state-owned companies, the public oiland gas providers will feel much more pressure to meetthe world’s need for energy in ways that are safe andenvironmentally responsible. In a possible deal withRussian oil giant Rosneft, BP would explore for reservesin Russia’s Arctic.Some well-capitalized companies in fast-growingeconomies sought undervalued assets in developedmarkets. PetroChina, for example, acquired a stake in aScottish refinery. Brazil’s Petrobras raised $67 billion froma public offering to help fund exploration in some of theworld’s largest and most difficult deep-water reserves.Based on expectations, the brand value of Petrobras rose39 percent.Gazprom, Russia’s largest company, was well positionedduring this period of diminished oil reserves andheightened environmental concern. As its brand nameimplies, Gazprom is the world’s largest natural gascompany. Its brand value increased 24 percent.SPOTLIGHTBy 2012, Shell for the first time willproduce more gas than oil. Last yearit established a biofuel partnership withCosan, a Brazilian ethanol producer.Increasingly, companies are strugglingto replace the oil reserves they depletewith newly discovered reserves.Leading brands continued shifting theirattention to gas because oil reservesare limited and exploration is complexand expensive.OIL & GASHIGHLIGHTSBrand may become more importanteven for state-owned companies as theymove out of their home markets.Incentives for producing renewableenergy became less likely asgovernments struggled to cut spendingand balance post-recession budgets.Demand from fast-growing economiesdrove oil prices to almost $100 perbarrel, near pre-recession pricing,although the industry had not yetreturned to pre-recession activity.Unrest in the oil-producing Middle Eastpushed prices higher early in 2011.OIL & GASIN 2011Geoff Beattie, Global Head,Corporate Affairs, Cohn WolfeBrands need to explore and explain“Oil and gas companies have a vital role to play insecuring the world’s energy future and providingenough energy for the nine billion people thatit’s estimated will be on the planet by 2050.The first challenge is to find a lot more oil andgas. The second challenge is to deliver it in anenvironmentally responsible and safe way.The communication challenge for the oil andgas companies is to demonstrate to the rest ofus exactly how they are going to do that. Whatreserves are going to be important to securingthe world’s energy future? And how we are goingto get those out, when some of the challengesof exploration and production in the oil and gasbusiness are formidable? So I think the oil andgas companies have to explain to the world howthis can be done in a safe and environmentallyresponsible way.”
Page 1 and 2: Top 100Most valuableglobal brands20
Page 4 and 5: PrefaceThe definitive brand valuati
Page 6 and 7: BrandZ Top 100 2011: INTRODUCTION 1
Page 8 and 9: Top 20 RisersTechnology, vision dro
Page 10 and 11: Year-on-YearChangeAll sectors grew
Page 13: 25 BrandZ Top 100 2011: INTRODUCTIO
Page 16 and 17: BrandZ Top 100 2011: SECTORS/COMMEN
Page 24 and 25: The DigitalRevolution:Shoppers and
Page 34 and 35: A Generational ShiftBrandZ Top 100
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Page 46 and 47: Brand ChinaFrom cutting costs to ad
Page 48 and 49: Brand IndiaColorful, confident and
Page 50 and 51: BrandZ Top 100 2011: OPPORTUNITIES/
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