Oil & Gas industry cross border M&A deals total $16.29bn globally in December 2020

Total oil & gas industry cross border M&A deals worth $16.29bn were announced globally in December 2020, led by China Oil & Gas Pipeline Network’s $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG, according to GlobalData’s deals database.

The value marked an increase of 2409.1% over the previous month of $649.24m and a rise of 190.4% when compared with the last 12-month average, which stood at $5.61bn.

Comparing cross border M&A deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $6.83bn. At the country level, the China topped the list in terms of deal value at $6.24bn.

In terms of volumes, Europe emerged as the top region for oil & gas industry cross border M&A deals globally, followed by North America and then Asia-Pacific.

The top country in terms of cross border M&A deals activity in December 2020 was the US with ten deals, followed by the UK with seven and Singapore with five.

In 2020, as of December, oil & gas cross border M&A deals worth $68.4bn were announced globally, marking an increase of 41.3% year on year.

oil & gas industry cross border M&A deals in December 2020: Top deals

The top five cross border M&A deals accounted for 80.2% of the overall value during December 2020.

The combined value of the top five oil & gas cross border M&A deals stood at $13.06bn, against the overall value of $16.29bn recorded for the month.

The top five oil & gas industry cross border M&A 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 with Arkema by Trinseo

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