Total Oil & gas industry M&A deals worth $9.1bn were announced globally in July 2022, led by Shell USA’s $1.96bn acquisition of 31.5% stake in Shell Midstream Partners, according to GlobalData’s deals database.

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The value marked a decrease of 6.7% over the previous month of $9.7bn and a drop of 24.3% when compared with the last 12-month average, which stood at $11.96bn.

Comparing M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $4.97bn. At the country level, the US topped the list in terms of deal value at $4.4bn.

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

The top country in terms of M&A deals activity in July 2022 was the US with 26 deals, followed by the China with 11 and Canada with eight.

In 2022, as of July, Oil & gas M&A deals worth $50.82bn were announced globally, marking an increase of 46.2% year on year.

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

The top five M&A deals accounted for 65.7% of the overall value during July 2022.

The combined value of the top five Oil & gas M&A deals stood at $5.94bn, against the overall value of $9.1bn recorded for the month.

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

1) Shell USA $1.96bn acquisition deal for 31.5% stake in Shell Midstream Partners

2) The $1.56bn acquisition of 50% stake in Shanghai SECCO Petrochemical by Ineos Group

3) PBF Energy $1.1bn acquisition deal for 52.3% stake in PBF Logistics

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

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