Oil & Gas industry M&A deals total $586.2m in Asia-Pacific in June 2022

Total oil & gas industry M&A deals worth $586.2m were announced in Asia-Pacific in June 2022, led by China BlueChemical’s $194.78m acquisition of CNOOC Orient Petrochemical, according to GlobalData’s deals database.

The value marked an increase of 87.8% over the previous month of $312.14m and a drop of 51.6% when compared with the last 12-month average of $1.21bn.

Asia-Pacific held a 6.23% share of the global oil & gas industry M&A deal value that totalled $9.41bn in June 2022. With a 6.00% share and deals worth $564.65m, 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 27 deals during June 2022, marking an increase of 68.75% over the previous month and a rise of 35.00% over the 12-month average. China recorded 11 deals during the month.

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

The top five oil & gas industry M&A deals accounted for 93.3% of the overall value during June 2022.

The combined value of the top five oil & gas deals stood at $546.99m, against the overall value of $586.2m recorded for the month.

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

1) China BlueChemical $194.78m acquisition deal with CNOOC Orient Petrochemical

2) The $191.58m acquisition of Liaohe Oilfield (Panjin) Gas Storage by Liaohe Petroleum Exploration Bureau

3) Shandong Haihua $97.64m acquisition deal with Shandong Haihua Chlor Alkali Resin

4) The $53.32m acquisition of 51% stake in Jiangxi Aikesheng Chemical Materials by Zhejiang Zhongxin Fluoride Materials

5) Hailier Pharmaceutical Group $9.67m acquisition deal for 26% stake with Shaanxi Jinxinyi Chemical Technology