Oil & Gas industry cross border deals total $16.34bn globally in December 2020

19 January 2021 (Last Updated February 12th, 2021 07:37)

Total oil & gas industry cross border deals worth $16.34bn were announced globally for December 2020, with the $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 2305.6% over the previous month of $679.24m and a rise of 126.9% when compared with the last 12-month average of $7.2bn.

In terms of number of cross border deals, the sector saw a drop of 25.00% with 54 deals in December 2020 when compared to the last 12-month average of 72 deals.

In value terms, Asia-Pacific led the activity with cross border deals worth $6.83bn in December 2020.

Oil & Gas industry cross border deals in December 2020: Top deals

The top five cross border deals accounted for 79.9% of the overall value during December 2020.

The combined value of the top five cross border deals stood at $13.06bn, against the overall value of $16.34bn recorded for the month.

The top five oil & gas industry cross border deals of December 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 $3.19bn acquisition of TC Pipelines by TC Energy

3) PPG Industries’ $1.52bn acquisition of Tikkurila

4) The $1.36bn asset transaction deal of Arkema by Trinseo

5) EG Group’s asset transaction deal with OMV for $745.66m.

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.