Oil giant Shell has emerged as the world’s “most valuable” oil and gas brand, according to a global brand consultancy group.

Brand valuation and strategy consultancy firm Brand Finance claim Shell has experienced a 7% boost in its brand value in 2019.

It also places the firm as the 26th most valuable across all industries.

Brand Finance value Shell at £32 billion as a consequence of the 7% increase.

Chinese oil and gas firms PetroChina and Sinopec took second and third place with a value of £27bn and £22bn, respectively.

French oil giant Total, UK firm BP and US firm Chevron came in at fourth, fifth and sixth place.

David Haigh, chief executive of Brand Finance, commented:“With the entrance of new digital techniques in oil drilling, such as those employed by AI and cloud technology, oil and gas giants need to be prepared to embrace digitisation as a top priority in order to reduce costs and boost efficiency.

“It is the brands which explore these radical new tools that will stay ahead of the curve and boost their brand values in the coming years.”