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  1. Deals Analysis
August 17, 2022

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

By Carmen

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.

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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

Related Companies

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.

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