Total oil & gas industry M&A deals worth $2.94bn were announced in Asia-Pacific in March 2021, led by Sinopec Overseas Investment Holding’s $881.78m acquisition of Sinopec Hainan Refining and Chemical, according to GlobalData’s deals database.
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The value marked an increase of 29.5% over the previous month of $2.27bn and a drop of 59% when compared with the last 12-month average of $7.17bn.
Asia-Pacific held a 19.03% share of the global oil & gas industry M&A deal value that totalled $15.45bn in March 2021. With an 8.74% share and deals worth $1.35bn, China was the top country in Asia-Pacific’s M&A deal value across oil & gas industry.
In terms of M&A deal activity, Asia-Pacific recorded 34 deals during March 2021, marking an increase of 9.68% over the previous month and a drop of 15.00% over the 12-month average. China recorded 12 deals during the month.
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By GlobalDataAsia-Pacific oil & gas industry M&A deals in March 2021: Top deals
The top five oil & gas industry M&A deals accounted for 80.3% of the overall value during March 2021.
The combined value of the top five oil & gas deals stood at $2.36bn, against the overall value of $2.94bn recorded for the month.
The top five oil & gas industry M&A deals of March 2021 tracked by GlobalData were:
1) Sinopec Overseas Investment Holding’s $881.78m acquisition of Sinopec Hainan Refining and Chemical
2) The $753.65m acquisition of Bharat Petroleum by ICICI Prudential Mutual Fund
3) Bharat Petroleum’s $327.02m acquisition of Bharat Oman Refineries
4) The $243.61m acquisition of Vinythai Public by PTT Global Chemical Public
5) Kingenta Ecological Engineering’s acquisition of Noberfun (China) Agriculture for $155.74m.
