Total oil & gas industry M&A deals worth $3.4bn were announced in Asia-Pacific in July 2022, led by Ineos Group’s $1.56bn acquisition of 50% stake in Shanghai SECCO Petrochemical, according to GlobalData’s deals database.

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The value marked an increase of 478.3% over the previous month of $586.23m and a rise of 184.9% when compared with the last 12-month average of $1.19bn.

Asia-Pacific held a 37.46% share of the global oil & gas industry M&A deal value that totalled $9.05bn in July 2022. With a 33.59% share and deals worth $3.04bn, 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 20 deals during July 2022, marking a decrease of 28.57% over the previous month and a flat growth over the 12-month average. China recorded 11 deals during the month.

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Asia-Pacific oil & gas industry M&A deals in July 2022: Top deals

The top five oil & gas industry M&A deals accounted for 97.2% of the overall value during July 2022.

The combined value of the top five oil & gas deals stood at $3.3bn, against the overall value of $3.4bn recorded for the month.

The top five oil & gas industry M&A deals of July 2022 tracked by GlobalData were:

1) Ineos Group $1.56bn acquisition deal for 50% stake in Shanghai SECCO Petrochemical

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

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

4) The $339.18m acquisition of 68% stake in Handsome Chemical Development by PAGAC Heisenberg Holding II

5) Xinyangfeng Agricultural Technology $79.78m acquisition deal with Baokang Zhuyuangou Mining