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  1. Deals Analysis
May 4, 2021

Asia-Pacific’s oil & gas industry saw a drop of 28.55% in deal activity in Q1 2021

By Carmen

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.

Related Companies

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.

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