Asia-Pacific’s oil & gas industry saw a drop of 15.38% in deal activity during July 2022, when compared with the last 12-month average, led by Ineos Group’s $1.56bn acquisition of Shanghai SECCO Petrochemical, according to GlobalData’s deals database.
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A total of 22 oil & gas industry deals worth $3.7bn were announced for the region in July 2022, against the 12-month average of 26 deals.
Of all the deal types, M&A saw most activity in July 2022 with 20 transactions, representing a 90.9% share for the region.
In second place was private equity with one deals, followed by venture financing deals with one transactions, respectively capturing a 4.6% and 4.6% share of the overall deal activity for the month.
In terms of value of deals, M&A was the leading category in Asia-Pacific’s oil & gas industry with $3.39bn, while private equity and venture financing deals totalled $292.38m and $1.5m, respectively.
Asia-Pacific oil & gas industry deals in July 2022: Top deals
The top five oil & gas deals accounted for 95.2% of the overall value during July 2022.
The combined value of the top five oil & gas deals stood at $3.51bn, against the overall value of $3.7bn recorded for the month.
The top five oil & gas industry deals of July 2022 tracked by GlobalData were:
1) Ineos Group $1.56bn acquisition deal for 50% stake in Shanghai SECCO Petrochemical
2) The $690.21m acquisition of 49% stake in Hefei Gas Group by China Resources Gas Investment (China)
3) China Petroleum & Chemical $631m acquisition deal for 50% stake in INEOS Styrolution Advanced Materials (Ningbo)
4) The $339.18m acquisition of 51% stake in Handsome Chemical Development by PAGAC Heisenberg Holding II
5) PAG (formerly Pacific Alliance Group) $292.38m private equity deal for 51% stake with Qianxin Chemical Group
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.