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