Led by $1.34bn acquisition of Numaligarh Refinery, Asia-Pacific’s oil & gas industry saw a drop of 28.55% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 97 deals worth $5.76bn were announced for the region during Q1 2021, against the last four-quarter average of 135.75 deals.
Of all the deal types, M&A saw most activity in Q1 2021 with 92 deals, representing a 94.9% share for the region.
In second place was private equity with four deals, followed by venture financing deals with one transactions, respectively capturing a 4.1% and 1.03% share of the overall deal activity for the quarter.
In terms of value of deals, M&A was the leading category in Asia-Pacific’s oil & gas industry with $5.67bn, while private equity and venture financing deals totalled $51.88m and $46.34m, respectively.
Asia-Pacific oil & gas industry deals in Q1 2021: Top deals
The top five oil & gas deals accounted for a 62.1% share of the overall value during Q1 2021.
The combined value of the top five deals stood at $3.58bn, against the overall value of $5.76bn recorded for the quarter.
The top five oil & gas industry deals of Q1 2021 tracked by GlobalData were:
1) Engineers India, Government of Assam and Oil India’s $1.34bn acquisition of Numaligarh Refinery
2) The $881.78m acquisition of Sinopec Hainan Refining and Chemical by Sinopec Overseas Investment Holding
3) ICICI Prudential Mutual Fund’s $753.65m acquisition of Bharat Petroleum
4) The $327.02m acquisition deal with Bharat Oman Refineries by Bharat Petroleum
5) Paradeep Phosphates’ asset transaction with Zuari Agro Chemicals for $280m.