Morgan Stanley and RBC Capital Markets were the leading financial advisers for oil and gas sector mergers and acquisitions (M&A) in 2025, based on a league table from data analytics company GlobalData.
According to GlobalData, Morgan Stanley achieved the top ranking by deal value, advising on transactions totalling $57.3bn. RBC Capital Markets distinguished itself in terms of volume, with advisory roles in 24 separate deals.
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Data from GlobalData’s Financial Deals Database highlights that JPMorgan secured the third position by value, facilitating deals worth $38.1bn. Evercore followed closely with transactions amounting to $37.9bn, while Goldman Sachs advised on deals valued at $30bn during the same period.
In terms of deal count, Evercore also emerged as a prominent adviser, taking third place with 16 deals. JPMorgan and Jefferies completed the ranking, each advising on 14 transactions. The analysis focused exclusively on deals valued at $1bn or more.
GlobalData lead analyst Aurojyoti Bose said: “RBC Capital Markets not only led by volume but also advised on several big-ticket deals during 2025, which helped it secure the second position by value as well, having advised on $41.6bn worth of deals. During the year, RBC Capital Markets advised on 13 billion-dollar deals.
“Meanwhile, Morgan Stanley advised on ten billion-dollar deals that also included two megadeals valued at more than $10bn. In fact, it was the only adviser to surpass the $50bn-mark during 2025. The global financial services firm also held the second position by volume with 16 deals.”
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By GlobalDataGlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available in the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.
