Total Oil & gas industry M&A deals worth $6.1bn were announced globally in May 2022, led by Petronas Chemicals Group’s $2.39bn acquisition of Perstorp Holding, according to GlobalData’s deals database.

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The value marked an increase of 55.2% over the previous month of $3.93bn and a drop of 51.5% when compared with the last 12-month average, which stood at $12.57bn.

Comparing M&A deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $2.78bn. At the country level, the Sweden topped the list in terms of deal value at $2.39bn.

In terms of volumes, North America emerged as the top region for Oil & gas industry M&A deals globally, followed by Europe and then Asia-Pacific.

The top country in terms of M&A deals activity in May 2022 was the US with 24 deals, followed by the UK with seven and Canada with six.

In 2022, as of May, Oil & gas M&A deals worth $33.87bn were announced globally, marking an increase of 44.4% year on year.

Oil & gas industry M&A deals in May 2022: Top deals

The top five M&A deals accounted for 77.1% of the overall value during May 2022.

The combined value of the top five Oil & gas M&A deals stood at $4.7bn, against the overall value of $6.1bn recorded for the month.

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

1) Petronas Chemicals Group $2.39bn acquisition deal with Perstorp Holding

2) The $800m acquisition of Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc by TriSummit Utilities

3) Crestwood Midstream Partners $600m acquisition deal with Sendero Midstream Partners

4) The $513.42m acquisition of 54.3% stake in Hoegh LNG Partners by Hoegh LNG Holdings

5) Crestwood Equity Partners $395m acquisition deal with for 50% stake in Crestwood Permian Basin Holdings