Total Oil & gas industry deals worth $10bn were announced globally for July 2022, with the $1.96bn acquisition of Shell Midstream Partners being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 28.4% over the previous month of $13.9bn and a drop of 42.2% when compared with the last 12-month average of $17.22bn.

In terms of number of deals, the sector saw a drop of 13.39% with 97 deals in July 2022 when compared to the last 12-month average of 112 deals.

In value terms, North America led the activity with deals worth $5.52bn in July 2022.

Oil & gas industry deals in July 2022: Top deals

The top five deals accounted for 59.8% of the overall value during July 2022.

The combined value of the top five deals stood at $5.94bn, against the overall value of $10bn recorded for the month.

The top five Oil & gas industry deals of July 2022 tracked by GlobalData were:

1) Shell USA $1.96bn acquisition deal for 31.5% stake in Shell Midstream Partners

2) The $1.56bn acquisition of 50% stake in Shanghai SECCO Petrochemical by Ineos Group

3) PBF Energy $1.1bn acquisition deal for 52.3% stake in PBF Logistics

4) The $690.21m acquisition of 49% stake in Hefei Gas Group by China Resources Gas Investment (China)

5) China Petroleum & Chemical $631m acquisition deal for 50% stake with INEOS Styrolution Advanced Materials (Ningbo)