Europe’s oil & gas industry saw a drop of 9.09% in deal activity during November 2022, when compared with the last 12-month average, led by Chart Industries’ $4.4bn acquisition of Howden Group, according to GlobalData’s deals database.

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A total of 40 oil & gas industry deals worth $5.3bn were announced for the region in November 2022, against the 12-month average of 44 deals.

Of all the deal types, M&A saw most activity in November 2022 with 36 transactions, representing a 90% share for the region.

In second place was venture financing with four deals capturing a 10% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Europe’s oil & gas industry with $5.26bn, followed by venture financing deals totalled $3.32m.

Europe oil & gas industry deals in November 2022: Top deals

The top five oil & gas deals accounted for 96.01% of the overall value during November 2022.

The combined value of the top five oil & gas deals stood at $5.05bn, against the overall value of $5.3bn recorded for the month.

The top five oil & gas industry deals of November 2022 tracked by GlobalData were:

1) Chart Industries’s $4.4bn acquisition deal with Howden Group

2) The $330m acquisition of Total E&P Dunga by Oriental Sunrise

3) Yildirim Group’s $170m asset transaction deal with Elementis

4) The $121m asset transaction for Two Aframax Vessels by Navios Maritime Partners

5) Shandong Weifang Rainbow Chemical’s $33.44m acquisition deal with Exclusivas Sarabia