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

19 January 2021 (Last Updated February 12th, 2021 07:38)

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.

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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.

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.