Total Oil & gas industry deals worth $11.7bn were announced globally for May 2022, with the Advent International and Lanxess $4.14bn private equity deal with Koninklijke DSM being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 137.7% over the previous month of $4.93bn and a drop of 32.3% when compared with the last 12-month average of $17.31bn.

In terms of number of deals, the sector saw a drop of 8.93% with 102 deals in May 2022 when compared to the last 12-month average of 112 deals.

In value terms, Europe led the activity with deals worth $7.12bn in May 2022.

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Oil & gas industry deals in May 2022: Top deals

The top five deals accounted for 72.05% of the overall value during May 2022.

The combined value of the top five deals stood at $8.45bn, against the overall value of $11.7bn recorded for the month.

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

1) Advent International and Lanxess $4.14bn private equity deal with Koninklijke DSM

2) The $2.39bn acquisition of Perstorp Holding by Petronas Chemicals Group

3) TriSummit Utilities $800m acquisition deal with Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc

4) The $600m acquisition of Sendero Midstream Partners by Crestwood Midstream Partners

5) Hoegh LNG Holdings $513.42m acquisition deal for 54.3% stake with Hoegh LNG Partners