The branding tool has recently become one of the most popular and dynamically developing methods of promoting a company in a competitive market. At the same time, the physical nature of markets can be quite arbitrary. Our article describes a theoretical and practical study of branding in the oil and gas industry in Russia. The oil and gas industry occupies a very important place in the Russian economy. The industry has its own unique ecosystem of businesses, from small independent operators to large oil and gas corporations. Taking this into account, the branding factor is becoming one of the most important arguments in the competition. This aspect determines the relevance of the study. The object of the research is PJSC "Gazprom". The theoretical part of the article is devoted to the study of the concept of brand and branding. While the analytical part describes the characteristics of PJSC "Gazprom" and estimates of the brand value.