Total oil & gas industry deals worth $16.91bn were announced globally for March 2021, with the $1.65bn asset transaction with Petroleo Brasileiro being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 64.3% over the previous month of $47.3bn and a drop of 37.7% when compared with the last 12-month average of $27.15bn.

In terms of number of deals, the sector saw a rise of 2.15% with 190 deals in March 2021 when compared to the last 12-month average of 186 deals.

In value terms, North America led the activity with deals worth $6.46bn in March 2021.

Oil & Gas industry deals in March 2021: Top deals

The top five deals accounted for 36.2% of the overall value during March 2021.

The combined value of the top five deals stood at $6.12bn, against the overall value of $16.91bn recorded for the month.

The top five oil & gas industry deals of March 2021 tracked by GlobalData were:

1) MC Brazil Downstream Participacoes’ $1.65bn asset transaction with Petroleo Brasileiro

2) The $1.32bn acquisition of Noble Midstream Partners by Chevron

3) Cerberus Capital Management and Koch Minerals & Trading ’s $1.1bn private equity deal with PQ Group Holdings

4) The $1.07bn merger deal of Secure Energy Services and Tervita

5) The merger deal with Diamond S Shipping and International Seaways for $981m.