Oil & gas industry deals in Q3 2020 total $129.07bn globally

16 November 2020 (Last Updated November 16th, 2020 18:17)

Oil & gas industry deals in Q3 2020 total $129.07bn globally

Total oil & gas industry deals for Q3 2020 worth $129.07bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 185.1% over the previous quarter and a rise of 130% when compared with the last four-quarter average of $56.17bn.

In terms of number of deals, the sector saw a rise of 1.3% over the last four-quarter average with 565 deals against the average of 558 deals.

In value terms, North America led the activity with deals worth $63.78bn.

Oil & gas industry deals in Q3 2020: Top deals

The top five oil & gas deals accounted for 73.02% of the overall value during Q3 2020.

The combined value of the top five oil & gas deals stood at $94.25bn, against the overall value of $129.07bn recorded for the month.

The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:

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

2) The $21bn acquisition of Speedway by 7-Eleven

3) Chevron’s $13bn acquisition of Noble Energy

4) The $12.13bn asset transaction with Wuthelam Holdings by Nippon Paint Holdings

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

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.