Total oil & gas industry cross border M&A deals worth $5.98bn were announced globally in February 2021, led by PTTEP Mena’s $2.59bn asset transaction with BP Exploration (Epsilon), according to GlobalData’s deals database.
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The value marked a decrease of 16.5% over the previous month of $7.16bn and a drop of 11.8% when compared with the last 12-month average, which stood at $6.78bn.
Comparing cross border M&A deals value in different regions of the globe, Middle East and Africa held the top position, with total announced deals in the period worth $2.83bn. At the country level, the Oman topped the list in terms of deal value at $2.59bn.
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 February 2021 was the US with seven deals, followed by the UK with five and Cyprus with four.
In 2021, as of February, oil & gas cross border M&A deals worth $13.14bn were announced globally, marking an increase of 204.4% year on year.
oil & gas industry cross border M&A deals in February 2021: Top deals
The top five cross border M&A deals accounted for 88.6% of the overall value during February 2021.
The combined value of the top five oil & gas cross border M&A deals stood at $5.3bn, against the overall value of $5.98bn recorded for the month.
The top five oil & gas industry cross border M&A deals of February 2021 tracked by GlobalData were:
1) PTTEP Mena’s $2.59bn asset transaction with BP Exploration (Epsilon)
2) The $1.3bn asset transaction with Exxon Mobil by NEO Energy
3) Lanxess’ $1.08bn acquisition of Emerald Kalama Chemical
4) The $187.85m asset transaction with TietoEVRY by Aucerna
5) CSSC Hong Kong Shipping’s asset transaction with Navig8 Chemical Tankers for $145.6m.