Asia-Pacific’s oil & gas industry saw a drop of 8.47% in cross border deal activity in Q4 2020

15 February 2021 (Last Updated February 15th, 2021 16:24)

Led by China Oil & Gas Pipeline Network’s $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG, Asia-Pacific’s oil & gas industry saw a drop of 8.47% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 54 cross border deals worth $7.68bn were announced for the region during Q4 2020, against the last four-quarter average of 59 deals.

Of all the deal types, M&A saw most activity in Q4 2020 with 53, representing a 98.1% share for the region.

In second place was private equity with one deal capturing a 1.9% of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in China’s oil & gas industry with $7.41bn, followed by private equity deals totalled $4.99m.

Asia-Pacific oil & gas industry cross border deals in Q4 2020: Top deals

The top five oil & gas cross border deals accounted for a 90.1% share of the overall value during Q4 2020.

The combined value of the top five cross border deals stood at $6.92bn, against the overall value of $7.68bn recorded for the quarter.

The top five oil & gas industry cross border deals of Q4 2020 tracked by GlobalData were:

1) China Oil & Gas Pipeline Network’s $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG

2) The $333.8m acquisition of Philippine Tank Storage International (Holdings) by Keppel Infrastructure Trust and Metro Pacific Investments

3) ADNOC Logistics & Services $168.4m asset transaction with Hunter Group

4) The $110m asset transaction deal with Ionic Shipping (MGT) by General National Maritime Transport

5) Delta Tankers’ asset transaction with TRF Ship Management for $71m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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.