Oil & Gas industry cross border deals total $2.8bn globally in July 2022

Total Oil & gas industry cross border deals worth $2.8bn were announced globally for July 2022, with the $460m acquisition of BENTELER Steel/Tube Manufacturing being the sector’s biggest investment, according to GlobalData’s deals database.

The value marked an increase of 64.1% over the previous month of $1.7bn and a drop of 62.6% when compared with the last 12-month average of $7.45bn.

In terms of number of cross border deals, the sector saw a drop of 18.75% with 26 deals in July 2022 when compared to the last 12-month average of 32 deals.

In value terms, North America led the activity with cross border deals worth $1.51bn in July 2022.

Oil & gas industry cross border deals in July 2022: Top deals

The top five cross border deals accounted for 66.2% of the overall value during July 2022.

The combined value of the top five cross border deals stood at $1.85bn, against the overall value of $2.8bn recorded for the month.

The top five Oil & gas industry cross border deals of July 2022 tracked by GlobalData were:

1) Tenaris $460m acquisition deal with BENTELER Steel/Tube Manufacturing

2) The $400m acquisition of FSRU I by Snam

3) PAGAC Heisenberg Holding II $339.18m acquisition deal for 68% stake in Handsome Chemical Development

4) The $339m acquisition of Petroteq Energy by Viston United Swiss

5) VAALCO Energy $307m acquisition deal with TransGlobe Energy