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.

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

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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.