Oil & gas industry deals in July 2020 total $68.21bn globally

3 September 2020 (Last Updated September 7th, 2020 06:32)

Oil & gas industry deals in July 2020 total $68.21bn globally

Total oil & gas industry deals for July 2020 worth $68.21bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 269.1% over the previous month and a rise of 263.6% when compared with the last 12-month average of $18.76bn.

In terms of number of deals, the sector saw a rise of 7.1% over the last 12-month average with 195 deals against the average of 182 deals.

In value terms, Asia-Pacific led the activity with deals worth $42.13bn.

Oil & gas industry deals in July 2020: Top deals

The top five oil & gas deals accounted for 93% of the overall value during July 2020.

The combined value of the top five oil & gas deals stood at $63.42bn, against the overall value of $68.21bn recorded for the month.

The top five oil & gas industry deals of July 2020 tracked by GlobalData were:

1) China Oil & Gas Piping Network’s $38.42bn asset transaction with PetroChina

2) The $13bn acquisition of Noble Energy by Chevron

3) Berkshire Hathaway Energy’s $9.7bn acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline

4) The $1.58bn acquisition of Polyplastics by Daicel

5) MISC’s asset transaction with Zhejiang Satellite Petrochemical for $726m.

Verdict deals analysis methodology

This analysis considers only announced and completed 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.