Global oil & gas industry deals down in value
BAKU, Azerbaijan, Feb.28
By Leman Zeynalova – Trend:
Global oil and gas industry deals saw a 2.3 percent decrease in value in the fourth quarter of 2019,Trend reports citing GlobalData.
Total oil and gas industry deals for Q4 2019 worth $78.46 billion were announced globally, according to GlobalData’s deals database.
“The value marked a decrease of 2.3 percent over the previous quarter and a drop of 34 percent when compared with the last four-quarter average of $119.37 billion. In terms of number of deals, the sector saw a drop of 12.4 percent over the last four-quarter average with 523 deals against the average of 597 deals,” reads the report.
In value terms, North America led the activity with deals worth $43.95 billion.
Top deals in oil and gas industry in the fourth quarter of 2019 are as follows:
Hess Midstream Partners’ $6.2 billion acquisition of Hess Infrastructure Partners
The $5.69bn private equity deal with Tallgrass Energy by Enagas, National Pension Service, The Blackstone Group, GIC and Universities Superannuation Scheme
Total’s $5bn asset transaction with Apache
The $4.51bn acquisition of Hitachi Chemical by HC Holdings and Showa Denko
Apergy’s asset transaction with Ecolab for $4.4 billion.
The top five oil and gas deals accounted for 32.9 percent of the overall value during Q4 2019. The combined value of the top five oil and gas deals stood at $25.8 billion, against the overall value of $78.46 billion recorded for the month.
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