BAKU, Azerbaijan, March 6
By Leman Zeynalova – Trend:
The value of oil and gas industry deals went down by 74.9 percent in January 2020, as compared to December 2019, Trend reports with reference to the analysis of GlobalData.
Reportedly, total oil and gas industry deals for January 2020 worth $9.68bn were announced globally, and a drop of 74.3 percent when compared with the last 12-month average of $37.66 billion.
In terms of number of deals, the sector saw a drop of 11.8 percent over the last 12-month average with 165 deals against the average of 187 deals.
In value terms, North America led the activity with deals worth $5.3 billion.
The top five oil and gas deals accounted for 56.2 percent of the overall value during January 2020.
The combined value of the top five oil and gas deals stood at $5.45 billion, against the overall value of $9.68 billion recorded for the month.
The top five oil & gas industry deals of January 2020 tracked by GlobalData were: Illuminate Buyer’s $2.73 billion acquisition of Lummus Technology; the $954 million asset transaction with Sinotrans & CSC Holdings by China Merchants Energy Shipping; Anglo American’s $741.56 million acquisition of Sirius Minerals; the $625 million asset transaction with BP by Premier Oil and EnCap Flatrock Midstream’s private equity deal with Edgewater Midstream for $400 million.
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