Total oil & gas industry deals worth $24.7bn were announced globally for October 2021, with the $6.2bn private equity deal with Teekay LNG Partners being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 65% over the previous month of $14.99bn and a rise of 26.4% when compared with the last 12-month average of $19.56bn.

In terms of number of deals, the sector saw a drop of 23.89% with 86 deals in October 2021 when compared to the last 12-month average of 113 deals.

In value terms, North America led the activity with deals worth $12.49bn in October 2021.

oil & gas industry deals in October 2021: Top deals

The top five deals accounted for 69.05% of the overall value during October 2021.

The combined value of the top five deals stood at $17.08bn, against the overall value of $24.7bn recorded for the month.

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

1) Stonepeak Partners $6.2bn private equity deal with Teekay LNG Partners

2) The $3.7bn acquisition of Purolite by Ecolab

3) Phillips 66 $3.4bn acquisition deal for 29.8% stake in Phillips 66 Partners

4) The $1.98bn acquisition of Dominion Energy Questar Pipeline by Southwest Gas Holding

5) Crestwood Equity Partners $1.8bn acquisition deal with Oasis Midstream Partners